Market Overview

Deutsche Bank Reiterates Hold Rating, $17 PT on J.C. Penney Company

Share:
Related JCP
This Investment Pro Makes The Case To Own JCPenney's Stock
Ex-JC Penney CEO On Retailers: Give Consumers A Reason To Buy...And They Will
What Investors Need to Know About Target's –st-Quarter Results (GuruFocus)

In a report published Monday, Deutsche Bank reiterated its Hold rating and $17.00 price target on J.C. Penney Company (NYSE: JCP).

Deutsche Bank noted, “Today is the third and final day of a 3-day (12/8-12/10) 20% off Friends & Family event at JCPenney. While the event took place on a fairly frequent basis in prior years, including 12/4-12/5 in 2011, we believe this is the first occurrence in 2012. The event is the latest of a series of promotions (i.e. 30% Off Select Outerwear, $10 Gift from CEO Ron Johnson, Free Family Portraits, Free Haircuts, etc.) that have been issued by the company over the past few months to drive traffic. Importantly, we believe it further signals a step away from an EDLP approach and a step towards a more promotional model in the quarters ahead.”

J.C. Penney Company closed on Friday at $18.17.

Latest Ratings for JCP

DateFirmActionFromTo
May 2016Morgan StanleyMaintainsUnderweight
May 2016BairdUpgradesNeutralOutperform
May 2016CitigroupMaintainsNeutral

View More Analyst Ratings for JCP
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Reiteration Analyst Ratings

 

Related Articles (JCP)

View Comments and Join the Discussion!