Piper Jaffray's Analyst Likes J C Penney Company Inc

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, Neely Tamminga of Piper Jaffray said that she believes in J C Penney Company Inc's (NYSE: JCP) plans to reclaim a part of the market share it lost.She thinks that the company is doing what its management has promised. It has set a plan to reclaim $2 billion of market share after it lost $6 billion in the last three years. Tamminga explained that a little bit weaker September sales are the reason for a Tuesday's decline of 10.88 percent, but she is not concerned because every company in the sector is going to report weaker sales. The analyst also likes

J C Penney Company Inc currently trades at a price to book of 1 and most of the stocks in the space trade at 3 or 4. With a P/B ratio of 1.5 the stock would trade at $12.