J.C. Penney Cash Burn And Risk/Reward Lowers PT To $6

J.C. Penney Company, Inc. (NYSE:JCP) has managed to shore up liquidity over the short to medium term with its new stock offering, but that doesn’t mean the company’s problems are over. A new report on J.C. Penney Company, Inc.(NYSE:JCP) from Morgan Stanley estimates that the company’s cash burn is going to be worse than expected going forward, and that means the price of the stock may be in for a fall. The report, which was authored by Morgan Stanley analysts Kimberly C Greenberger and Jay Sole, puts a price target of $6 on shares in J.C. Penney Company, Inc. (NYSE:JCP) and rates…