Analysts: J.C. Penney Share Sale Removes Overhang and 3 Other Research Notes to Review
J.C. Penney (NYSE:JCP): Buckingham believes the sale of J.C. Penney stock by Pershing Square removes an overhang and will prove to be a positive for shares. The analyst expects that the removal of Bill Ackman from the board of directors will help attract a permanent CEO and recommends adding to positions. The firm rates shares a Buy with a $20 price target.
VMware (NYSE:VMW): After attending VMware’s analyst day, FBR Capital thinks the company is well positioned to benefit from a number of major trends as well as cross-sell and upsell opportunities. The firm keeps an Outperform rating on the stock.
PetSmart (NASDAQ:PETM): After PetSmart reported higher-than-expected earnings per share but in-line revenue, Wedbush thinks the company’s competitive positioning is strong. The firm believes the company will continue to benefit from strong demand for its products. Wedbush reiterates an Outperform rating on the shares and continues to include PetSmart on its Best Ideas List.
KKR & Co. (NYSE:KKR): Argus believes that investors have become concerned about the impact of rising interest rates on KKR. However, the firm notes that the company has successfully navigated many previous rate cycles and economic cycles. The firm doesn’t expect rates to increase significantly in the near term, and it reiterates a Buy rating on the stock.
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