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J C Penney Company Inc Shares Rise As CEO Drives Next Phase Of Turnaround

J C Penney shares are trading higher after Deutsche Bank AG (NYSE:DB) (ETR:DBK) (FRA:DB) analyst Paul Trussell upgraded his rating from Hold to Buy citing the reason that the retailer has “multiple layers to pull” to achieve its target of $1.2 billion in EBITDA by 2017.

J C Penney Company JCP

The stock price of J C Penney increased nearly 2% to $9.11 per share at the time of this writing around 3:00 in the afternoon in New York on Monday.

In a note to investors, Trussell identified several opportunities for J C Penney to improve its margins including the use of technology to control unintended markdowns. He also noted that the company’s initiatives in improving its store presentation would help increase its sales.

J C Penney CEO is practicing the science of retail

“The company is already proficient in the art of retail under its seasoned merchandising...