Analyst: J.C. Penney solid long-term hold - New Mexico Business Weekly:

ysynut.wordpress.com
The Baird report indicated that the companyt israting Plano-based Penney’s (NYSE: JCP) as with a target price of $29 per share. In the the analyst report estimatesa 12-cent per sharde loss for the seconrd quarter of 2009 for Penney’s and earninges of 74 cents per share for the entire 2009 fiscall year. But the latest analyst reporty from Baird addedthat Penney’s is still viewed as a solid long-term holding,” with the companyg boasting of well-known brands at attractive prices and providing a varietyt of beauty products to younger, affluent buyers through the beautty brand. Maschmeyer with Robert W. Baird & Co.
is the secon analyst in a two-week perioxd to tote Penney’s as an attractive long-termj option. Last week, J.C. Penney Co. saw its stockm price jump after an analyst with JP Morgamnupgraded Penney’s to “overweight” from “neutral.” The JP Morgan analys t report, which was compiled by analyst Charlesz Grom, indicated that Penney’s was upgradedd due to expectations that lowef apparel input costs would benefit the retailer, In addition, Grom’s report said the compangy is experiencing lower markdown dollars due to an improves inventory position and stabilization in the home category. Penny's has five retail locations inNew Mexico.