JPMorgan Comments on J.C. Penney In The Run-Up To Q1 Earnings Report
JPMorgan analyst Matthew Boss commented on J.C. Penney (NYSE: JCP) on Monday prior to the company's May 15 Q1 earnings report.
Boss noted that the sentiment at the firms fourth Bull-Bear debate on Friday, May 9, was "the most negative in our series to date." Additionally, Boss wrote,"discussion focused on 2H top-line compares (implied negative SSS), liquidity (flat FCF guidance not achievable), and margins (return to layered discounting)."
Despite the negative tone of this debate, shares of J.C. Penney were trading up ~three percent at last check.
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