Morgan Stanley Retains Underweight Tag On J.C. Penney

Morgan Stanley (NYSE:MS) retained its ‘underweight’ tag on J.C. Penney Company, Inc. (NYSE:JCP) as the retailer faces multiple challenges including cash flow concerns and market share losses.

Kimberly C. Greenberger and the team at Morgan Stanley (NYSE:MS) remain skeptical of any quick turnaround of the retailer, following poor quarterly results.

J.C. Penney Company, Inc. (NYSE:JCP) posted far worse than expected second quarter results logging a net loss of $2.66 per share. However, the department store chain highlighted major areas of progress...