J.C. Penney Company Downgraded to “Neutral” at Citigroup (JCP)
Citigroup lowered shares of J.C. Penney Company (NYSE: JCP) from a buy rating to a neutral rating in a report released on Wednesday. Citigroup currently has $15.00 target price on the stock, down from their previous target price of $22.00.
Shares of J.C. Penney Company opened at 14.82 on Wednesday. J.C. Penney Company has a one year low of $14.20 and a one year high of $38.87. The stock’s 50-day moving average is currently $19.20. The company’s market cap is $3.250 billion.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of J.C. Penney Company from an outperform rating to a market perform rating in a research note to investors on Wednesday. They now have a $15.00 price target on the stock, down previously from $30.00. Separately, analysts at Bank of America cut their price target on shares of J.C. Penney Company from $16.00 to $13.00 in a research note to investors on Tuesday. They now have an underperform rating on the stock. Finally, analysts at JPMorgan Chase cut their price target on shares of J.C. Penney Company from $18.00 to $15.00 in a research note to investors on Thursday, February 28th. They now have a neutral rating on the stock.
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