Market Overview

JC Penney Shares Strong as Oppenheimer 'Increasingly Optimistic' Turnaround Story Could Re-Accelerate in '13

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

Analysts at Oppenheimer are helping push shares of JC Penney (NYSE: JCP) higher on Monday's holiday-shortened trading session. The stock is up more than four percent to over $20.35.

The firm's Brian Nagel said "We are increasingly optimistic that the more price promotional stance that J.C. Penney is now assuming will allow the chain to make the most of a challenging holiday selling season and position it well to re-accelerate its aggressive turnaround strategy in 2013."

A team of Oppenheimer analysts visited a round of the retailer's stores over the weekend, noting aggressive markdowns, light inventory in the home section and better sales in coats and clearance.

Nagel maintains an Outperform rating and $30 price target on JC Penney shares.

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: Analyst Color Analyst Ratings Movers

 

Related Articles (JCP)

View Comments and Join the Discussion!