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J. C. Penney Company, Inc. Message Board

  • nusaiba nusaiba Oct 3, 2013 2:10 PM Flag

    Gilford Securities Upgrades J. C. Penney (JCP) to Buy

    Gilford Securities Upgrades J. C. Penney (JCP) to Buy
    Less than a month after the stock from Sell to Neutral, Gilford Securities analyst Bernard Sosnick has taken his rating on to J. C. Penney (NYSE: JCP) to Buy. Sosnick believes the company is at an inflection point and foresees a reflex rally that could take the stock to $25 per share, as the retailer moves from a dangerous to a more secure foundation.

    Sosnick also believes Mike Ullman is the right choice as CEO, and he doesn't think Ullman would have assumed the position if he doubted J.C. Penney could handle its financial obligations.

    Long-term financing will
    ultimately replace short term debt at J.C. Penney and equity dilution of 10 percent or more would be acceptable for "insurance," thinks the analyst.

8.75+0.01(+0.11%)Jul 11 4:01 PMEDT

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