Analysts: J.C. Penney Turnaround Is Dragging Out and 3 Other Research Notes to Browse

J. C. Penney (NYSE:JCP): Citigroup has lowered its price target for J. C. Penney shares to $7 from $11 on concerns that J. C. Penney’s turnaround is taking longer than expected and its vendor relationships are deteriorating. Citi thinks that J. C. Penney has enough cash for 2013 but feels that it’s prudent for the company to raise capital to “cushion against a potentially challenging Holiday season.” The firm reiterated a Sell rating on J.C. Penney’s shares, saying that its basic liquidation valuation analysis indicates that the floor in J.C. Penney’s stock could be $1 per share. Shares of J. C. Penney closed Wednesday down 15 percent, or $1.78, to $10.12.

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Goldman Sachs Group (NYSE:GS): Credit Suisse lowered Goldman’s third-quarter earnings per share estimate to $2.10 from $2.63 versus the consensus of $2.75 due to weaker contributions from Goldman’s Fixed Income, Currency, and Commodities division, and a lack of pickup in volume levels. Goldman Sachs’s shares are Outperform rated with a $185 price target.

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HomeAway (NASDAQ:AWAY): Morgan Stanley has downgraded HomeAway to Equal Weight from Overweight due to a slowdown in HomeAway’s subscription listing growth and lower contribution expectations for HomeAway’s pay-per-bookings revenue.

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Lumber Liquidators Holdings (NYSE:LL): Piper Jaffray has raised its price target for Lumber Liquidators Holdings to $135 from $108 after performing a 10-year growth analysis. The firm has reiterated its Overweight rating on Lumber Liquidators’s stock and believes that the flooring industry is set for a multiyear recovery.

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