J.C. Penney upgraded to Market Perform from Underperform at Wells Fargo Wells Fargo upgraded its rating on J.C. Penney (JCP) shares to Market Perform following the retailer's Q4 results and raised its price target range for shares to $6-$7 from $4-$5. Wells believes a large capital raise or a change in corporate structure "seems to be off the table" for now and thinks the stock is likely to move higher in the near term.
J.C. Penney to bring back 120-page catalog, WSJ reports J.C. Penney has decided to resurrect its catalog in the form of a 120-page book that will mark the first catalog the chain has sent out since 2010, The Wall Street Journal reports. The retailer, which quit the catalog amid a broader pullback caused by the recession and the rise of e-commerce, now believes the catalog can help drive web sales. Reference Link