Citigroup removes J.C. Penney (JCP --1.6%) from its Top Picks Live list and slashes the price...

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

Citigroup removes J.C. Penney (JCP --1.6%) from its Top Picks Live list and slashes the price target on shares to $24 from $40. One of the issues (of many) with the company's "transformation" is that new product lines aren't viewed as likely to click with back-to-school shoppers.