BTIG: Turnaround at J.C. Penney on track, shares fairly valued

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

BTIG shifts to a Neutral stance on J.C. Penney (JCP -2.8%) on its view the stock is currently valued fairly by the market.

The investment firm hangs its hat on JCP's 8.5X enterprise multiple to FY16 projections.

Comments from analyst Will Frohnhoefer on the retailer skew to the positive side as the post-Ron Johnson turnaround continues to play out.