JCPenney (JCP) Rises; Plans Relaunch of Home Goods Line
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J. C. Penney (JCP) Seen Generating Postive Comp Sales Amid Comback, Citi Upgrades to Buy
March 11, 2014 6:40 AM EDT(Updated - March 11, 2014 8:39 AM EDT)
Citi upgraded J. C. Penney (NYSE: JCP) from Neutral to Buy with a price target of $11 (from $7.50). Analyst Oliver Chen thinks J. C. Penney will continue to generate positive comp sales. He also views liquidity concerns as "overdone."
"We're upgrading JCP to Buy based on our conviction that JCP can continue to deliver positive comp store sales in-line with FY14 guidance (+MSD)," said Chen. "We believe this can... More
