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TRADE ALERT- J.C. Penney’s Q2 results ‘Relatively Uneventful’: Wells Fargo

Zemanta Related Posts ThumbnailWells Fargo (NYSE: WFC) maintains an underperform rating on J.C. Penney (NYSE: JCP) due to its Q2 results.  In the report, Wells Fargo said J.C. Penney is selling its products at lower margins than last year while struggling to drive traffic.  Wells believes it may need additional liquidity for next year, keeping a $10-$11 price target on the stock.

Company Profile:

J. C. Penney Company, Inc. through its subsidiary, J. C. Penney Corporation, Inc., operates department stores. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings. It also provides various services, such as styling salon, optical, portrait photography, and custom decorating. As of February 2, 2013, it operated 1,104 department stores in 49 states and Puerto Rico. The company also sells its products through its Internet Website, jcp.com. The company was founded in 1902 and is based in Plano, Texas.

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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