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JCPenney Gets a Downgrade, Bullish Calls on Cigna, Sonus Networks

JCPenney gets a downgrade to UNDERPERFORM from Wells Fargo on a belief the shares are overvalued at current levels.

JCPenney gets a downgrade to UNDERPERFORM from Wells Fargo on a belief the shares are overvalued at current levels and that investors do not appreciate the high level of debt which leaves little for equity shareholders. Jefferies is reiterating their BUY rating on shares of Sonus Networks saying they believe the shares can double or maybe even triple in price over the next several years. JPMorgan is also reiterating their OVERWEIGHT rating and $96 price target on shares of Cigna. JPMorgan says management focused on the continued expectation of 10-13% EPS growth over the long term and the strong earnings performance Cigna has generated over the last several years. Ruben Ramirez has Tuesday's Analysts' Actions from the New York Stock Exchange.

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