Analysts: J.C. Penney’s Outlook May Improve and 3 More Research Notes to Read Through
J.C. Penney (NYSE:JCP): JPMorgan believes that J.C. Penney’s sales improved in the second half of October, and the firm thinks the company’s comparative sales may have been positive last month for the first time since the second quarter of 2011. The firm also expects the company to report a lower-than-expected earnings per share loss, and benefit from an easy November comp. The firm initiated a “Santa’s Rally long trade” in the shares, but keeps a Neutral rating on the stock.
Mohawk (NYSE:MHK): RBC raised its price target on Mohawk Industries to $162 from $146 after the company reported higher-than-expected earnings per share. RBC Capital believes the company is firing on all cylinders, while its momentum is accelerating. The firm expects the stock to outperform its peer group, and it keeps an Outperform rating on the shares.
NetApp (NASDAQ:NTAP): Piper Jaffray downgraded NetApp to Neutral from Overweight, citing a weakening demand in the U.S. Federal sector, and increasing competitive pressure. Piper lowered its price target for shares to $38 from $45.
Aflac (NYSE:AFL): Citigroup downgraded Aflac to Neutral from Buy, citing limited near-term growth catalysts given the company’s higher investment spending. The firm lowered its price target for shares to $70 from $71.