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Fly News Breaks for May 14, 2015
JCP
May 14, 2015 | 07:44 EDT
UBS noted J.C. Penney reported better than expected EBITDA in Q1 despites sluggish same store sales. The firm noted the company's solid cost controls, but believes sales will have to accelerate to foster high visibility for their EBITDA targets. UBS reiterated its Sell rating, but raised its price target to $7 from $5 on J.C. Penney shares.
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