J.C. Penney (NYSE:JCP): Buckingham says that investor Bill Ackman’s letter will motivate the board to accelerate its process to name a permanent CEO. The firm believes a more permanent CEO will help strengthen confidence from J.C. Penney’s suppliers and its ability to hire senior talent, acting as a positive catalyst. The firm rates the shares at Buy with a $23 price target.
The Gap (NYSE:GPS): Susquehanna has downgraded The Gap to Neutral from Positive, as the firm cited valuation concerns. It did, however, raise the price target to $49 from $46.
Potash (NYSE:POT): BGC Financial has upgraded Potash names on expectations that the Uralkali and BPC joint venture is likely to reach an agreement. The firm has a $37 price target for Potash shares with a Buy rating, up from Hold.
21st Century Fox (NASDAQ:FOXA): Wells Fargo has increased its price target range on 21st Century Fox to $39-$41 from $34-$36 after attending the company’s investor day. The firm believes the company’s fundamentals are better than those of its peers. The firm also thinks that the company can carry out M&A activity and return cash to shareholders. It keeps an Outperform rating on the stock.