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.
News For JCP From The Last 14 Days
Check below for free stories on JCP the last two weeks.
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