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JC Penney Defies Goldman Pick, Gains Steam to Close Year

Jonathan Marino
12/18/14 7:45 AM EST
When a Goldman Sachs analyst downgrades a stock and reduces its price target, that might otherwise be considered the kiss of death for a company like JC Penney. The legacy retailer's stock plunged over the course of the year, and is down even more since Black Friday kicked off at the end of last month. But, someone, somewhere, got very bullish on JC Penney yesterday, and the price of shares rose nearly five percent. Whisper reports from its holiday sales have positive indicators -- a rarity -- and JC Penney could be among the retailers that gets a boost from discounted gas at the holidays.
Stocks in this video: JCP

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