Citigroup reiterates Buy on J.C. Penney after seeing prototype store Citigroup finds J.C. Penney's prototype store inviting and exciting, and says the new store format will offer a shopping experience unlike any other in apparel retailing. Citi reiterates a Buy rating on shares following J.C. Penney's analyst day and shop tour.
News For JCP From The Last 14 Days
Check below for free stories on JCP the last two weeks.
Stocks with call strike movement; JCP MU J.C. Penney (JCP) January call option implied volatility increased 2% to 50, Micron (MU) January 16 call option implied volatility increased 2% to 48 according to IVolatility.
Wells 'surprised' by amount of J.C. Penney TV spending Wells Fargo said it has been surprised at the amount of TV advertising J.C. Penney has done, but it notes the spending will drive some incremental traffic and sales. Wells points out that J.C. Penney issued higher 2013 capex guidance last night in its regulatory filing. The firm raised its FY13 earnings estimate to ($4.80) from ($5.17) to reflect higher comp sales estimates but keeps an Underperform rating on the stock.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Cadence (CADX) initiated with a Neutral at Piper Jaffray... Costco (COST) initiated with a Buy at Sterne Agee... Dollar General (DG) initiated with a Neutral at Sterne Agee... Dollar Tree (DLTR) initiated with a Buy at Sterne Agee... Emeritus (ESC) initiated with a Neutral at Goldman... Enbridge (ENB) initiated with an Outperform at Macquarie... ExOne (XONE) initiated with a Buy at Canaccord... Family Dollar (FDO) initiated with a Neutral at Sterne Agee... Five Below (FIVE) initiated with a Neutral at Sterne Agee... Haemonetics (HAE) initiated with an Outperform at JMP Securities... ING Group (ING) initiated with a Buy at Jefferies... J.C. Penney (JCP) initiated with a Buy at Sterne Agee... Kohl's (KSS) initiated with a Neutral at Sterne Agee... Macy's (M) initiated with a Buy at Sterne Agee... Nordstrom (JWN) initiated with a Buy at Sterne Agee... Saks (SKS) initiated with a Neutral at Sterne Agee... Signature Bank (SBNY) initiated with an Overweight at Morgan Stanley... The Fresh Market (TFM) initiated with a Buy at Sterne Agee... The Medicines Co. (MDCO) initiated with an Overweight at Piper Jaffray... Vitamin Shoppe (VSI) initiated with a Buy at Sterne Agee... Whole Foods (WFM) initiated with a Buy at Sterne Agee... SkyWest (SKYW) initiated with an In-Line at Imperial Capital... W&T Offshore (WTI) initiated with a Buy at SunTrust... Canadian Natural (CNQ) initiated with an Accumulate at Global Hunter... Cenovus Energy (CVE) initiated with a Buy at Global Hunter... Suncor (SU) initiated with a Buy at Global Hunter... Freeport McMoRan (FCX) coverage resumed with a Buy at Jefferies.
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