Market Overview

UPDATE: Piper Jaffray Cuts PT to $16 on J.C. Penney Following Bleak Q4 Results

Share:
Related JCP
30 Stocks Moving In Wednesday's Pre-Market Session
Analyst Echoes Predictions Amazon Will Buy Retailer: 'Downtrodden Big Box, Department Store Player'
Market Is Rising On The Fear Of Missing Out - Cramer's Mad Money (1/18/18) (Seeking Alpha)

Piper Jaffray maintained J.C. Penney (NYSE: JCP) with a Neutral rating and lowered the price target from $17.00 to $16.00.

Piper Jaffray commented, "We remain cautiously optimistic that a meaningful turnaround in sales is possible in 2H13 if an expanded lineup of shops can drive traffic increases, but should revenue growth be slower to materialize, JCP will likely require a capital infusion to fund its capital expenditures in 2014 and 2015. We are lowering our price target from $17 to $16 and continue to remain on the sidelines in view of JCP's deteriorating financial condition and our expectation of negative free cash flow for the foreseeable future."

J.C. Penney closed at $21.16 on Wednesday.

Latest Ratings for JCP

DateFirmActionFromTo
Oct 2017CitigroupMaintainsSell
Oct 2017BMO CapitalMaintainsMarket Perform
Oct 2017B. RileyMaintainsNeutral

View More Analyst Ratings for JCP
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (JCP)

View Comments and Join the Discussion!