J.C. Penney (JCP -1.9%) is trading lower after posting in-line FQ3 results, and guiding for FQ4...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP -1.9%) is trading lower after posting in-line FQ3 results, and guiding for FQ4 EPS of $1.05-$1.15 ($1.14 consensus). JPMorgan (Overweight) believes the company is being conservative with guidance in order to "re-establish investor credibility," and thinks a combination of low expectations and new management bodes well for shares.