J.C. Penney Assigned ‘Hold’ By Deutsche Bank

Despite posting solid results for November, J.C. Penney Company, Inc. (NYSE:JCP) gets a Hold rating from Deutsche Bank AG (NYSE:DB) as its analysts doubt whether the retailer can improve its results any further.

Paul Trussell and Matt Siler of Deutsche point out that J.C. Penney Company, Inc. (NYSE:JCP) grew same store sales by 10.1%, beating analyst’s expectations for +9.0%.  The analysts note the retailer’s strength was mainly driven by improved store traffic and conversion as well as continued strength in online sales.

November could be its peak

While applauding J.C. Penney Company, Inc. (NYSE:JCP)’s management for the progress in its turnaround efforts to...