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Fly News Breaks for April 4, 2016
JCP
Apr 4, 2016 | 12:01 EDT
As previously reported, Northcoast upgraded J.C. Penney to Buy from Neutral with a $15 price target on shares. Analyst Jeff Stein is impressed with the new management team's strategies and the fact the company will gain profitable market share in a very challenging environment in FY16. J.C. Penney has established a lean cost structure, positioning the company for significant earnings growth on modest sales improvement, the analyst said, and adds the company is capable of surprising to the upside over the next several years.
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