J.C. Penney Assigned ‘Hold’ By Deutsche BankMani
Despite posting solid results for November, J.C. Penney Company, Inc. (NYSE:JCP) gets a Hold rating from Deutsche Bank AG (NYSE:DB) as its analysts doubt whether the retailer can improve its results any further.
Paul Trussell and Matt Siler of Deutsche point out that J.C. Penney Company, Inc. (NYSE:JCP) grew same store sales by 10.1%, beating analyst’s expectations for +9.0%. The analysts note the retailer’s strength was mainly driven by improved store traffic and conversion . . .
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