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Stock Market & Financial Investment News

News Breaks
March 10, 2014
07:43 EDTJCPJ.C. Penney could need to raise $950M in 2015, says BMO Capital
BMO Capital estimates that J.C. Penney may need to raise $950M in capital in 2015 to maintain trough liquidity of $938M in 3Q15. The firm thinks the company's liquidity could drop significantly by the end of this year versus 2013, and it predicts that the retailer will remain cash flow negative until 2018. The firm keeps an Underperform rating on the stock.
News For JCP From The Last 14 Days
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March 31, 2015
16:33 EDTJCPJPMorgan ups J.C. Penney price target after seeing management
After meetings with J.C. Penney management, JPMorgan raised its price target for the retailer to $10 from $8. The firm says Penny management expressed confidence in the company’s ability to reach its 2017 EBITDA target of $1.2B. JPMorgan notes that management sees "multiple ways" to achieve the target, even if sales do not grow. More near-term, the firm points out its work suggests Penny will post in-line or better Q1 results despite port issues and inconsistent weather. Nevertheless, the firm keeps a Neutral rating on the retailer. Shares of Penny closed the trading day up 58c to $8.41 after Piper Jaffray this morning upped its price target for shares to $14.
06:42 EDTJCPJ.C. Penney Q1 comp estimate, price target raised at Piper Jaffray
Piper Jaffray believes warmer weather versus last year and greater mall traffic from Apple (AAPL) Watch interest will drive positive Q1 momentum for J.C. Penney (JCP). Piper raised its comp estimate for Q1 to up 3% from up 1% and its price target for shares to $14 from $13. The firm keeps an Overweight rating on J.C. Penney.
March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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