Citi's Quick Take From JCP Management Meeting

Citi is providing a quick take from its meetings with J. C. Penney Company, Inc. JCP meeting. “During our meetings, management was very positive on business trends for February and March, including its key growth initiatives, non-comparable brands, and strengthening at its better price point,” Citi writes. “We believe that the significant changes made to JCP's merchandising organization in 2010 are driving improved comps in 2011. We reiterate our above-consensus SSS and EPS outlook for 2011. JCP remains on CIRA's Top Picks Live! List.” J. C. Penney Company closed Tuesday at $37.77.