J.C. Penney: Valuation Has Settled Into A Reasonable Range
- J.C. Penney's price has fallen due to lower Q3 growth guidance.
- Current price is now low enough that J.C. Penney has a solid chance of growing into its valuation.
- Value of $6 to $9 per share if J.C. Penney can reach $13 billion in sales.
- J.C. Penney's growth targets of mid-single digits appear optimistic, but gross margin and SG&A targets appear achievable.