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1 Reason Why JCP Is A Screaming Buy Here

BATS:JCP   PENNEY J C INC
240 4 2
J.C. Penney Company, Inc. (NYSE:JCP) is currently trading at $7.57, -0.62 (-7.63%). It is a screaming buy in my opinion because of one main reason. This morning, the company affirmed previous guidance. The stock has sold off on that news. Why? Great question! Most likely because the street was hoping for them to raise guidance. This has created one of the best buying opportunities in a stock in the new year. Below is the main, key reason.

1. They affirmed guidance which in essence means they have stopped the bleeding. It means they have turned the corner. Granted they have a long way to go but so did Best Buy             Co., Inc. (NYSE:BBY), Hewlett-Packard Company (NYSE:HPQ) in late 2012 when those stocks were around $12.00 a share. Don't we all wish we bought those then?

This alone tells me the stock is worth at least $10.00 per share and means there is 30% upside in 2014 this year.

Gareth Soloway
www.InTheMoneyStocks.com
Dash to $12.00 Not yet. Like JCP for second quarter earnings.
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SatwikBardhan QuantitativeExhaustion
2 years ago
I agree, JCP doesn't have sufficient energy yet to make that reversal. May form a double bottom at around 6.32.
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Hi guys, nice bounce on JCP this morning - we took profits on it and will buy back when it comes lower again. Sometimes you just need to trust the levels, this was a good example. Cheers
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@Gareth i didnt catch the BBY but i did catch the HPQ and the story on HPQ went like this: HPQ was being beaten up in the news real bad. That crazy guy on cnbc was screaming everyone should dump it, dump it, dump it!!! Jim Cramer is his name. This was late november 2012 and earnings coming up. Price around $13, hadn't seen prices that low in 10 years. November 20th after the close i believe it was, earnings came out and actually beat by a penny i think it was but they guided lower from there. Next morning priced gaped down like a buck and a half and dropped another 30 cents from there. Price drifted up the next few days. Then the next week it consolidated for like three days in like a 40 cent range in the middle $12s. Friday it closed at $30 bucks.Then though it went straight to $15 bucks which was good move and a really nice profit. I called out at work that day for that play and had 9 call contracts. It was a bloody mess that day and everyone was crying sell sell sell and it fell right into a big pile of buy orders and hasnt looked back since.

JCP has earnings coming up in a few days, 26 Feb after the close. JCP is an old company, been around a long time. See if it pulls it out like HPQ did. If it makes it to $12 bucks like it says that will be a nice profit for anybody wont it.
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