JPMorgan warms up to long-term outlook on J.C. Penney

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

JPMorgan tees up J.C. Penney (NYSE:JCP) as a Long Trade Idea.

The investment firm thinks JCP will announce a restructuring this fall that will spark a rally as earnings projections starts to look more manageable.

JP was cautious heading into J.C. Penney's Q2 report, but emerged confident on the other side and with Q3 channel checks looking promising.

JCP +2.4% premarket