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JCPenney (JCP)

JCP-JCpenney-stock12/2 Price: $10.10

That’s right: The world’s most-storied riches-(relatively)-to-rags story is a buy again.

Yes, Ron Johnson’s fame at Apple (AAPL) and Target (TGT) never translated into success at JCPenney (JCP), and in fact he steered the ship straight into the ground. However, JCP is (thankfully) at least trying “business as usual” again under Mike Ullman.

While it’s still not clear if the turnaround effort will take hold before JCPenney runs short of cash again, the market looks willing to at least give JCP the benefit of the doubt long enough to let the stock make progress — if that’s what’s indeed in the cards.

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