Imperial Bullish on J.C. Penney Debt, But Not the Equity

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Mani
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Imperial Capital has maintained its Underperform rating on J.C. Penney Company, Inc. (NYSE:JCP) and pegged its 1-year price target at $5 per share. However, Imperial Capital in its recent capital structure research report maintained its Buy rating on J.C. Penney Company, Inc. (NYSE:JCP)’s term loans and all bonds maturing after 2015. J.C. Penney’s sales to grow 6.5 percent Mary Ross-Gilbert of Imperial Capital anticipates J.C. Penney Company, Inc. (NYSE:JCP) to post 6.5 percent increase in its sales during F4Q13 year-on-year, with its gross margin up 771 bps yoy to 31.5 percent as against 23.8 percent posted in F4Q12. Imperial Capital estimates J.C….


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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports