Deutsche Bank Reiterates Hold Rating on J.C. Penney Company on Weekend Coupon Offers
In a report published Monday, Deutsche Bank reiterated its Hold rating on J.C. Penney Company (NYSE: JCP).
Deutsche Bank noted, “Mid-day Friday March 8th, JCP emailed and sent text messages offering $10 off of purchases above $25 in-store or online through Sunday March 10th. The coupon was valid across the store from our observations (with Sephora excluded) which some JCP rewards members put to use this past weekend. Interestingly, there was no sign of the promotion in the Sunday circular which focused on Compare & Save messaging across tees, swimsuits, and sneakers, potentially suggesting that the promotion was not originally planned.”
J.C. Penney Company closed on Friday at $15.11.
Latest Ratings for JCP
|Jan 2017||Credit Suisse||Downgrades||Neutral||Underperform|
|Dec 2016||Bank of America||Upgrades||Neutral||Buy|
|Sep 2016||Guggenheim||Initiates Coverage on||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.