Maxim Group Sees Tougher Comps Weighing on JCPenney (JCP) Shares

Maxim Group analyst Rick Snyder reiterated a Sell rating and $4 price target on J. C. Penney (NYSE: JCP) noting tougher compares ahead.

Snyder highlighted:

• Sales slowing as expected - ".... We expect more difficult compares to be a headwind for the next several quarters."
• Clearance compares to remain difficult until 2Q15 - "... We believe that clearance levels will not normalize until 2Q15. Thus, we anticipate slow comp growth until that quarter"
• Large-scale store closings not likely in the near term - "Once again, management stated that the company does not have a large number of four-wall stores with negative cash flows... we do not believe that numerous store closings are imminent."

For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.

Shares of J. C. Penney closed at $7.26 yesterday.

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