SWOT ANALYSIS OF JC PENNEY

7/14/2020 Business Insights: Global

https://bi-gale-com.proxy.lib.pdx.edu/global/article/GALE%7CA327976669/3765a4102ce7210c719f2a7df8931584?u=s1185784 1/1

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UPDATE: Imperial Capital Assigns Underperform Rating on J.C. Penney on Valuation

Benzinga.com

Byline: Dwight Einhorn

In a report published Monday, Imperial Capital analyst Mary Ross-Gilbert assigned an Underperform rating to J.C. Penney Company (NYSE:JCP), but lowered the price target from $17.00 to $11.00.

In the report, Ross-Gilbert noted, "We are assigning an Underperform rating on the shares of JCP and a one-year price target of $11, down 35% from a recent price of $17.00. We think the stock will remain volatile with near-term trading potentially favored to the upside on short-covering (short interest is approximately 38% of the float), and anticipated favorable operating momentum in F2H13. We think the stock is likely 'dead-money' over the next 12-24 months as it may take 2-4 years to restore 'pre-Johnson' era profitability."

J.C. Penney Company closed on Friday at $17.00.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Dwight Einhorn

Full Text: COPYRIGHT 2013 Accretive Capital LLC dba Benzinga.com. http://www.benzinga.com/

Source Citation:

"UPDATE: Imperial Capital Assigns Underperform Rating on J.C. Penney on Valuation." Benzinga.com 29 Apr. 2013. Business Insights: Global. Web. 14 July 2020.

URL http://bi.gale.com.proxy.lib.pdx.edu/global/article/GALE%7CA327976669/3765a4102ce7210c719f2a7df8931584? u=s1185784

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GALE|A327976669

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