J.C. Penney downgraded to Neutral from Overweight at JPMorgan JPMorgan expects things at J.C. Penney to get worse before they get better and said the new pricing and promotional structure have left more questions than answers. Price target lowered to $20 from $30.
News For JCP From The Last 14 Days
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J.C. Penney CEO successor search faces setback, WSJ says It appears that J.C. Penney (JCP) is not having an easy time of identifying a successor for current CEO Myron Ullman, says the Wall Street Journal. According to the WSJ report, Mindy Grossman, CEO of HSN (HSNI), who is considered the lead candidate for Ullman's position, had been in talks with J.C. Penney but could not agree on terms and negotiations broke down moths ago. Reference Link