Analysts fell to the sidelines weighing in on Best Buy Co (BBY) and JC Penney (JCP) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Best Buy Co (BBY)
Wedbush analyst Michael Pachter maintained a Hold rating on Best Buy Co today and set a price target of $71. The company’s shares closed yesterday at $68.74.
According to TipRanks.com, Pachter is a 3-star analyst with an average return of 0.8% and a 54.0% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
Best Buy Co has an analyst consensus of Moderate Buy, with a price target consensus of $78.18.
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JC Penney (JCP)
B.Riley FBR analyst Jeff Van Sinderen assigned a Hold rating to JC Penney today and set a price target of $1.40. The company’s shares closed yesterday at $1.19, close to its 52-week low of $0.92.
Van Sinderen commented:
“JCP reports 1Q results BMO on 5/21. The company was not immune to the cold weather/ calendar shift headwinds and we expect soft metrics overall with possible offset on merchandise margin pressure after clearing non-core and low-margin merchandise in 4Q. The company started 1Q with inventory down 13%, considerably lower than sales that were down 8% in 4Q. We do not expect a significant contribution to sales from exiting the major appliance business because inventory was limited to floor samples. Our checks indicate that the majority of the floor samples in categories were sold and the floor space re-purposed.”
According to TipRanks.com, Sinderen has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.8% and a 42.7% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings Inc, and Chromadex Corp.
Currently, the analyst consensus on JC Penney is a Hold with an average price target of $1.90.
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