Market Overview

UPDATE: JP Morgan Downgrades JC Penney to Neutral on Fundamental Outlook

Share:
Related JCP
Here's Who Benefits The Most If Sears Goes Bankrupt
Jim Cramer's View On Priceline Group, J C Penney And Ocwen Financial
Making Money With Charles Payne: 01/08/15 (Fox Business)

JP Morgan reduced its rating on JC Penney (NYSE: JCP) from Overweight to Neutral and cut its price target from $30 to $20.

JP Morgan noted, "We are downgrading JCPenney to Neutral from Overweight based on (1) more questions than answers on the long-term pricing/promotional structure (incentives, NOW Pricing, MSRP), (2) balance sheet composition increasingly unclear (WC vs. non-core asset sale drivers), and (3) lack of earnings support for potentially another year (JPM modeling $0.00 EPS in FY13 w/ risk if sales do not materialize)."

JC Penney closed at $17.40 on Tuesday.

Latest Ratings for JCP

DateFirmActionFromTo
Jan 2015Deutsche BankMaintainsHold
Dec 2014Goldman SachsDowngradesNeutralSell
Nov 2014Morgan StanleyReiteratesUnderweight

View More Analyst Ratings for JCP
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (JCP)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional