JCPenney will survive the retail slump - Joseph Lazzaro

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JCPenney will survive the retail slump
Aug 11, 2009 03:50 PM UTC

Joseph Lazzaro

Return	Risk
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Symbol	Sentiment	Start	Return	Closed
JCP		08/11/09	-14.60%	--

Via BloggingStocks:

Filed under: Penney (J.C.) (JCP), Stocks to Buy

I'm Reiterating my Buy rating for JCPenney (NYSE: JCP), first recommended on April 13, 2009 at a price of $26.52.

As expected, institutional investors are incrementally adding to their JCP position, on sentiment that JCPenney will capture some of the trade-down segment. These are middle-income and occasionally upper-middle-income adults who, for budget reasons, are steering clear of the designer boutiques and high-end retailers: they'll be buying only what the need, and chances are JCPenney will see some of that business.

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JCPenney will survive the retail slump originally appeared on BloggingStocks on Tue, 11 Aug 2009 10:50:00 EST. Please see our terms for use of feeds.

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