J.C. Penney turnaround 'very much underway,' says Piper Jaffray Piper Jaffray says J.C. Penney's turnaround is "very much underway" after the retailer last night posted its third consecutive quarter of positive comps. Piper believes management's indication that the last week of the quarter comped up double digits bodes well for back-to-school selling. It reiterates an Overweight rating on the stock with a $12 price target.
J.C. Penney director discloses 100K share purchase at $7.28 J.C. Penney director Javier Teruel disclosed in a filing late Friday the purchase of 100K shares at $7.28 on Nov. 19. Shares of JCP are up 5.5% in early afternoon trading.