Analysts: J.C. Penney Sales Are Up and 3 Other Research Notes to Look Into
J.C. Penney (NYSE:JCP): Cleveland Research notes that feedback indicates that early May has been one of the best sales weeks since its newly implemented EDLP format, and the company is reacting to improved sales trends by pulling forward inventory receipts and securing additional merchandise units, according to the firm.
Corning (NYSE:GLW): Barclays has brought Corning from Equal Weight to Overweight, as it is “incrementally more positive on the LCD cycle” as a 2014 recovery driven by phones and TVs continues. The firm also increased its price target, from $15 to $20.
Carlyle Group (NYSE:CG): UBS has downgraded the company to Neutral from Buy, citing that margin pressures from new feed funds that need time to gain momentum. It also lowered its price target, from $34 to $32.
Michael Kors (NYSE:KORS): Morgan Stanley has put Michael Kors on its list of Best Ideas due to positive store checks, upbeat management meetings, conservative SG&A forecasts (which are beatable), and positive Q4 data points. It rates the shares at Overweight, with a $71 price target.
Investing Insights: Will Wal-Mart Continue Its Dominance?