Wells says 'no reason to get too excited' about J.C. Penney Wells Fargo sees "no reason to get too excited" over J.C. Penney after the company reported Q2 results. Wells notes that while gross margin improved significantly, comps slowed versus Q1 and the retailer still lost (73c) per share. The firm continues to view the current valuation as stretched and keeps an Underperform rating on the stock with a $5-$6 price target range.
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.