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Fly News Breaks for September 28, 2015
JCP
Sep 28, 2015 | 07:52 EDT
As noted earlier, Sterne Agee CRT upgraded J.C. Penney to Buy from Neutral. After meeting with the company's new CEO, the firm thinks he has the ability to lead a turnaround at the company. The firm believes that the retailer's initiatives will boost its EBITDA, and Sterne thinks the company can surpass its $1.2B 2017 EBITDA guidance while its same-store sales growth can accelerate. Target $13.
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