Replies to post #211718 on Option Millionaires

[uranium-pinto-beans]

Shares of J.C. Penney Co. (JCP) rallied 2.7% in premarket trade, after J.P. Morgan sent clients a favorable research report on the department store chain. Analyst Matthew Boss said the stock "sets up well" for investors to own it through year end, as he sees new management, store closures and an analyst day in early October as positive catalysts. The stock is up 11% year to date, versus a 7.6% gain in the S&P 500. It slipped 1.4% the last two sessions, after closing at an 11-month high of $10.33 last Wednesday. Boss believes a "large scale" restructuring of J.C. Penney's store base, with closures of more than 100 stores, is likely after year end. And by his calculation, each 100 store closings equals $3 worth of equity value. The stock was trading at $10.47 ahead of the open, or about 5% below Boss's $11 price target.