J.C. Penney’s A (Strong) Sell, Says Maxim Group
Apologies for being a little late, but this morning Maxim Group initiated coverage of retailer J.C. Penney (JCP) with a Sell rating, with analyst Rick Snyder airing very strong concerns about the company’s cash situation: Cash flow is weak and could become critical. At current burn rates—and absent any further asset sales—we estimate that J. [...]
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