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JCP

J.C. Penney

$1.81

0.025 (1.40%)

, SHLD

Sears

$0.35

-0.1354 (-27.89%)

08:39
10/12/18
10/12
08:39
10/12/18
08:39

Morgan Stanley sees near-term pressure, long-term gain for Penney if Sears folds

Amid recent headlines regarding Sears (SHLD) adding a restructuring expert and reportedly pursuing a bankruptcy filing, Morgan Stanley analyst Kimberly Greenberger noted that she believes J.C. Penney (JCP) had the highest store overlap with Sears, K-Mart, and Sears Specialty Stores within both a quarter mile and half mile radius. If Sears closes additional stores or engages in liquidation sales, retailers in the close trade areas could experience some short-term pressure, said Greenberger, who added that Sears has already been closing stores for years. In the medium to long-term, she expects J.C. Penney and other retailers in the respective trade areas to potentially benefit from these closures. Greenberger, who views Penney's near-term debt maturities as "manageable," keeps an Equal Weight rating and $1.50 price target on the shares.

JCP

J.C. Penney

$1.81

0.025 (1.40%)

SHLD

Sears

$0.35

-0.1354 (-27.89%)

JCP J.C. Penney
$1.81

0.025 (1.40%)

08/16/18
BOFA
08/16/18
DOWNGRADE
BOFA
Underperform
J.C. Penney downgraded to Underperform from Neutral at BofA/Merrill
08/16/18
FBCO
08/16/18
NO CHANGE
Target $1
FBCO
J.C. Penney price target cut to $1 from $2 at Credit Suisse
08/17/18
SBSH
08/17/18
NO CHANGE
Target $0.5
SBSH
Sell
J.C. Penney price target lowered to 50c from $2 at Citi
Citi analyst Paul Lejuez said that J.C. Penney " finds itself in a very difficult position" following its Q2 report given that they lack a CEO and head merchant and are struggling at a time when peers are seeing improvement in their business. While he does not see near-term liquidity issues, Lejuez said there is not that much equity value given the company's high debt load. He lowered his price target on J.C. Penney shares to 50c from $2 and keeps a Sell rating on the stock.
10/03/18
PIPR
10/03/18
NO CHANGE
Target $1.5
PIPR
Neutral
Piper Jaffray keeps Neutral on J.C. Penney after CEO announcement
Piper Jaffray analyst Erinn Murphy maintains a Neutral rating on J.C. Penney with a $1.50 price target after Jill Soltau was named the company's new CEO. Soltau has direct insights on Penny's core consumer given the overlap of the consumer base in her prior roles, Murphy tells investors in a research note. The analyst, however, remains sidelined with respect to the shares given her longer-term view on department store retailing and her belief that inventory at Penny "is still in process of being right-sized."
SHLD Sears
$0.35

-0.1354 (-27.89%)

02/05/18
JEFF
02/05/18
NO CHANGE
Target $100
JEFF
Buy
Bon-Ton Stores bankruptcy benefits Kohl's, says Jefferies
Jefferies analyst Randal Konik notes that Bon-Ton Stores filed bankruptcy protection and provided the locations of the about 50 units slated for closure. The analyst now estimates near-term closures from Macy's (M), Sears (SHLD), Kmart, and Bon-Ton (BONT) should add about 18c to Kohl's (KSS) EPS and a 1.5% comp lift. Moreover, Konik believes the materialization of Bon-Ton's closures could be a "cherry on top" to accelerating fundamentals at Kohl's this year. He reiterates a Buy rating and $100 price target on Kohl's shares.
04/19/18
MSCO
04/19/18
NO CHANGE
Target $1550
MSCO
Overweight
Amazon gaining apparel market share in U.S., says Morgan Stanley
Morgan Stanley analyst Brian Nowak said his analysis shows that Amazon (AMZN) gained 1.5% of U.S. apparel market share in 2017, largely at the expense of department stores. He estimates Amazon is the second largest U.S. apparel retailer, trailing only Walmart (WMT), and expects the e-commerce giant to take the number one spot in terms of U.S. apparel market share in 2018. Cumulatively, Nowak estimates Sears (SHLD), Macy's (M) and J.C. Penney (JCP) lost 0.8% share in 2017, with shareholdings remaining roughly flat for Target (TGT) and Kohl's (KSS). He maintains an Overweight rating and $1,550 price target on Amazon shares.
05/09/18
JEFF
05/09/18
NO CHANGE
Target $60
JEFF
Hold
Sears-Amazon tire partnership not a negative for Monro, says Jefferies
Jefferies analyst Bret Jordan kept his Hold rating and $60 price target on Monro (MNRO) after its stock price fell over 7.5% today to $52.70, saying Sears (SHLD) partnership with Amazon (AMZN) on tire installation and services is a not "transformational negative". Jordan notes that the greater transparency and price matching is not new, while Monro is "already an installer for other online sellers such as Tirerack and ATD's tirebuyer.com". The analyst adds that the agreement is not exclusive, leaving the "door open" for Monro to enter into a similar deal.
09/24/18
WELS
09/24/18
NO CHANGE
WELS
Outperform
Newell weakness on potential Sears bankruptcy fears overdone, says Wells Fargo
Wells Fargo analyst Bonnie Herzog believes today's weakness in shares of Newell Brands (NWL) is likely due to concerns about a potential bankruptcy of Sears (SHLD) as well as ongoing China tariff negotiations. However, she views the move as a "complete overreaction," arguing that Newell's exposure to Sears is fairly limited. Herzog, who sees today's weakness as overblown and would be a buyer amid the weakness, reiterates her Outperform rating on Newell shares, which are down 7% to $20.28 in late morning trading.

TODAY'S FREE FLY STORIES

LLY

Eli Lilly

$111.91

-1.4 (-1.24%)

, INCY

Incyte

$66.09

1.66 (2.58%)

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LLY

Eli Lilly

$111.91

-1.4 (-1.24%)

INCY

Incyte

$66.09

1.66 (2.58%)

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WAL

Western Alliance

$49.42

-4.11 (-7.68%)

18:36
10/21/18
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18:36
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18:36
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Western Alliance analyst commentary  »

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FFBC

First Financial Bancorp

$24.91

-2.51 (-9.15%)

18:32
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18:32
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First Financial Bancorp rating change  »

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HRZN

Horizon Technology

$11.45

0.06 (0.53%)

18:29
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18:29
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Horizon Technology rating change  »

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NCNA

NuCana

$18.90

1.9 (11.18%)

18:25
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18:25
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CBNK

Capital Bancorp

$12.75

(0.00%)

18:25
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Initiation
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ABX

Barrick Gold

$13.19

0.005 (0.04%)

, GOLD

Randgold

$81.91

0.23 (0.28%)

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ISS recommends Barrick, Randgold shareholders vote in favor of merger »

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Barrick Gold

$13.19

0.005 (0.04%)

GOLD

Randgold

$81.91

0.23 (0.28%)

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V

Visa

$140.06

0.74 (0.53%)

, IBM

IBM

$129.16

-1.36 (-1.04%)

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V

Visa

$140.06

0.74 (0.53%)

IBM

IBM

$129.16

-1.36 (-1.04%)

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T

AT&T

$32.86

0.36 (1.11%)

, CMCSA

Comcast

$35.97

0.02 (0.06%)

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T

AT&T

$32.86

0.36 (1.11%)

CMCSA

Comcast

$35.97

0.02 (0.06%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$55.66

-0.38 (-0.68%)

FOX

21st Century Fox

$45.51

0.05 (0.11%)

FOXA

21st Century Fox

$45.76

-0.05 (-0.11%)

LGF.A

Lionsgate

$22.20

(0.00%)

DIS

Disney

$118.81

2.55 (2.19%)

VIAB

Viacom

$33.24

-0.49 (-1.45%)

VIA

Viacom

$36.75

-0.48 (-1.29%)

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FOX

21st Century Fox

$45.51

0.05 (0.11%)

, FOXA

21st Century Fox

$45.76

-0.05 (-0.11%)

17:24
10/21/18
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17:24
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17:24
Periodicals
AMC's Collier named next leader of Fox Network, NY Times reports »

Fox (FOXA) will turn to…

FOX

21st Century Fox

$45.51

0.05 (0.11%)

FOXA

21st Century Fox

$45.76

-0.05 (-0.11%)

AMC

AMC Entertainment

$19.81

0.18 (0.92%)

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VLKAY

Volkswagen

$0.00

(0.00%)

17:04
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Periodicals
Audi electric SUV facing delay due to software bug, Reuters reports »

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BX

Blackstone

$34.66

-0.61 (-1.73%)

17:00
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Periodicals
Blackstone to acquire Ulterra for $700M, Reuters reports »

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FCAU

Fiat Chrysler

$15.52

0.035 (0.23%)

, KKR

KKR

$24.22

-0.45 (-1.82%)

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16:56
Periodicals
Fiat agrees to sell Magneti Marelli to KKR's Calsonic, Bloomberg says »

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FCAU

Fiat Chrysler

$15.52

0.035 (0.23%)

KKR

KKR

$24.22

-0.45 (-1.82%)

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MRK

Merck

$72.34

0.12 (0.17%)

, AZN

AstraZeneca

$39.21

0.25 (0.64%)

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Merck, AstraZeneca announce detailed results from Phase 3 SOLO-1 trial »

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MRK

Merck

$72.34

0.12 (0.17%)

AZN

AstraZeneca

$39.21

0.25 (0.64%)

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VAR

Varian Medical

$104.25

-1.575 (-1.49%)

16:31
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NTGN

Neon Therapeutics

$8.88

0.56 (6.73%)

14:30
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14:30
Conference/Events
Neon Therapeutics management to meet with Morgan Stanley »

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GTHX

G1 Therapeutics

$46.88

-0.07 (-0.15%)

14:13
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NCNA

NuCana

$18.90

1.9 (11.18%)

14:09
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LPTX

Leap Therapeutics

$6.44

-0.17 (-2.57%)

, MRK

Merck

$72.34

0.12 (0.17%)

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Leap Therapeutics (LPTX)…

LPTX

Leap Therapeutics

$6.44

-0.17 (-2.57%)

MRK

Merck

$72.34

0.12 (0.17%)

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INCY

Incyte

$66.09

1.66 (2.58%)

14:02
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Incyte announces positive interim data from Phase 2 trial of Pemigatinib »

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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:58
10/21/18
10/21
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13:58
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Loxo's larotrectinib delivers 81% ORR in expanded dataset of 109 TRK fusion cancer »

Bayer (BAYRY) and Loxo…

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

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LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

, BAYRY

Bayer

$0.00

(0.00%)

13:53
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13:53
Hot Stocks
Loxo announces larotrectinib clinical update in patients with TRK fusion cancers »

Loxo Oncology (LOXO)…

LOXO

Loxo Oncology

$160.01

-7.58 (-4.52%)

BAYRY

Bayer

$0.00

(0.00%)

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MRTX

Mirati Therapeutics

$40.04

-1.82 (-4.35%)

13:45
10/21/18
10/21
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13:45
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Mirati announces updated data from ongoing trial of single agent sitravatinib »

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RHHBY

Roche

$0.00

(0.00%)

13:39
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Entrectinib shrank tumors in people with NTRK fusion-positive solid tumors »

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GILD

Gilead

$73.27

-0.9 (-1.21%)

, GLPG

Galapagos NV

$107.66

2.29 (2.17%)

13:34
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Gilead, Galapagos NV announced data from Phase 3 FINCH2 trial of filgotinib »

Gilead Sciences (GILD)…

GILD

Gilead

$73.27

-0.9 (-1.21%)

GLPG

Galapagos NV

$107.66

2.29 (2.17%)

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