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Actionable news in JCP: J.C. PENNEY COMPANY Inc,

J.C. Penney: A $15 Price Target Is Not Unrealistic

Summary

J.C. Penney's shares have returned 48.80 percent this year.

Improving investor sentiment after Q2 2016 and announcement of strategic three-year plan in August fueled J.C. Penney's rise.

I continue to see significant upside for J.C. Penney on the back of a strong U.S. economy and growing investor optimism.

Department store retailer J.C. Penney (NYSE:JCP) has managed to pull investors back on its side after it released rather solid second quarter comps. The retailer has recovered strongly in 2016 on the back of growing investor optimism, an overall positive comparable store sales growth trend and a moderately growing U.S. economy.

As a result, J.C. Penney's shares have risen a total of 48.80 percent this year. Today, J.C. Penney shares are sitting just below $10, and can rip higher.

Source: StockCharts.com

J.C. Penney fell out of favor in April and May and released first quarter results that showed a negative comparable store sales growth rate of 0.4 percent. However, J.C. Penney managed to come back to positive comp territory in the second quarter. The retailer said that its second quarter comparable store sales growth rate hit 2.2 percent, proving to investors that the turnaround at the retailer has not yet come to an end. J.C. Penney also reaffirmed its...


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