Market Overview

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on J.C. Penney Company

Related JCP
Morgan Stanley Sees Apparel Lagging For The Next 5 Years
6 Strong Analyst Recommendations That You Should Know
Making Money With Charles Payne: 11/24/14 (Fox Business)

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on J.C. Penney Company (NYSE: JCP), but lowered its price target from $25.00 to $18.00.

BMO Capital noted, “We significantly cut our FY2012 GAAP EPS estimate to a loss of $1.52, which compares with our prior estimate of a loss $0.88. On a non-GAAP basis and before pension expense, we estimate FY2012 EPS estimate at a loss of $0.92 compared with our prior profit estimate of $0.17. Including pension expense, our FY2012 continuing estimate now calls for a loss of $1.48. We reduced our FY2013 GAAP EPS estimate from $1.00 to $0.01, or to $0.25 on a non-GAAP basis.”

J.C. Penney Company closed on Friday at $20.64.

Latest Ratings for JCP

DateFirmActionFromTo
Dec 2014Goldman SachsDowngradesNeutralSell
Nov 2014Morgan StanleyReiteratesUnderweight
Nov 2014JP MorganMaintainsNeutral

View More Analyst Ratings for JCP
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (JCP)

Around the Web, We're Loving...

Get Benzinga's Newsletters