JC Penney Shares Giving Up Gains as Analysts Look Skeptical Following Nov. Comps Figures
Shares of JC Penney (NYSE: JCP) touched a pre-market low at $9.62, but have since bounced to around $9.90. The stock hit a post-market high at $10.86 on Tuesday afternoon.
A Wells Fargo analyst said he was "unimpressed" with the November same-store sales figures. Elsewhere, analysts at Deutsche Bank called the comps "solid" but suggested "November may represent" a peak.
Wells Fargo's Paul Lejuez reiterated an Underperform rating on JC Penney shares while Deutsche Bank is maintaining a Hold rating and $6 price target.
Latest Ratings for JCP
|Feb 2017||Morgan Stanley||Upgrades||Underweight||Equal-Weight|
|Feb 2017||Susquehanna||Initiates Coverage On||Positive|
|Jan 2017||Credit Suisse||Downgrades||Neutral||Underperform|
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