J.C. Penney Rises as Citigroup Analyst Upgrades to Buy
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J.C. Penney Co., the retailer that’s posted three straight annual losses, rose 3 percent after a Citigroup Inc. analyst recommended buying the shares because of its nascent turnaround.
The stock gained to $8.67 at the close in New York. Shares of Plano, Texas-based J.C. Penney have declined 5.2 percent this year, compared with a 1 percent gain for the Standard & Poor’s 500 Index.