J.C. Penney, Blow by Blow This Week – Is the Retailer Getting Its Act Together?

ValueWalk takes a look at J.C. Penney Company, Inc. (NYSE:JCP)’s news action this week. A lot, mostly positive, seems to be happening at the beleaguered retailer, but could it all lead to a turnaround? Significant events On Monday, October 7, the J.C. Penney Company, Inc. (NYSE:JCP) stock plumbed a nadir of $7.59, said to be the lowest in over 30 years. Tuesday, analysts at Sterne Agee made a U-turn on their hitherto bullish stance on the retailer and downgraded their rating to Neutral; they also trimmed the PT to $9. JCP issued an update on progress of turnaround Shortly afterwards that…