Goldman Sachs Downgrades J.C. Penney To Sell, Shares Slip

Analysts at Goldman Sachs downgraded J.C. Penney Company

from Neutral to Sell. The price target for J.C. Penney is set to $5.50. J.C. Penney shares have dropped 23.50% over the past 52 weeks, while the S&P 500 index has gained 15.27% in the same period. J.C. Penney's shares fell 5.14% to $7.01 in pre-market trading.