JCREW: 1 year price target? I bought in the 10's for long term hold Barclays upgraded JCG to Equal Weight from Underweight. The firm also moved their 2009 estimate to $0.57 from $0.40. The firm notes that at almost $250 per sq ft, JCG's SG&A expenses are the 3rd highest in their universe, behind only ANF and CHS. Yet the firm believes that the year should benefit from initiatives, discussed at the recent ICR conference, to trim expenses by ~$25m annually. So all in all, the firm believes mgmt is doing the right things, the long-term sq footage opportunity is attractive and their '09 est is no longer an outlier.