J Crew (JCG) Shares Fall After Strong Opening And Upgrade

Shares of J Crew Group Inc. (NYSE: JCG) opened well above the previous trading day's close after an upgraded rating from Brean Murray, then steadily declined for the rest of the day.

Earlier in the day, Brean Murray upgraded the stock from Hold to Buy with a target price of $50.

However, shortly after the market open, the share price started going down. With just two hours left in the trading day, the share price had fallen more than 1% from the previous day's closing price.