Citi Raises J.C. Penney Share Price Target, Sees 30% Upside for Abercrombie

J. C. Penney Company, Inc.(NYSE:JCP): Citigroup raised its estimates and price target for J.C. Penney citing the company’s upbeat financial guidance and transformation strategy. The firm reiterates a Buy rating on the stock.

Delphi Automotive PLC(NYSE:DLPH): Deutsche Bank says Delphi Automotive remains one of its top picks for 2012 following the company’s strong Q4 results and outlook. The firm believes the company is positioned to be one of the industry’s fastest growing and most profitable suppliers and reiterates a Buy rating on the stock with a $35 price target.

Universal Display Corp.(NASDAQ:PANL): KeyBanc said Samsung reiterated its commitment to OLEDs on its Q4 conference call. The firm said management made it clear that a majority of its $5.9B capex budget will be for OLEDs displays, increasing its confidence in Universal Display’s (NASDAQ:PANL) 2012 outlook.

Abercrombie & Fitch Co.(NYSE:ANF): Citigroup believes the bear case is largely priced into Abercrombie & Fitch shares at current levels, and feels the stock offers a compelling risk/reward. The firm sees 10% downside potential, with 30% upside potential, and maintains a Buy rating on the stock with a $60 price target.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

More from The Cheat Sheet