J.C. Penney in focus

A little bit of hedge fund love is going a long way for shares of J.C. Penney (JCP +6.9%).

More than a few buyers are joining Glenview Capital and Kyle Bass in betting on the retailer to see a turnaround.

Goldman Sachs is back in the business of covering the stock, resuming coverage with a Neutral rating and $14 price target. The firm doesn't go too deep with its analysis, saying the JCP story is a "wide risk-reward" that should be watched closely.

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