JCPenney will close some of its sites in a bid to cut costs. However, the company still operates more than 800 stores, which Amazon could use to speed up its order processing and delivery. For example, Amazon could use JCPenney stores as distribution centers and package pickup locations for its shoppers. Therefore, a deal that gives Amazon access to JCPenney sites could expand its capacity and make the most of the pandemic-driven demand. Acquiring JCPenney could make Amazon stock more attractive.
At this point, Amazon stock has a 24% upside potential to Wall Street’s highest target price at $3,000.
View more information: https://marketrealist.com/2020/05/deal-jcpenney-might-be-good-amazon-stock/