In the following video, Fool analysts Jeremy Bowman and Isaac Pino take a look at the bull thesis behind J.C. Penney. The stock has been battered over the past year as same-store sales have tumbled and CEO Ron Johnson's revamp has struggled. But there could be a light at the end of the tunnel, and significant upside potential for the stock given its recent contraction. Industry peers have voiced their support for Johnson's model, and certain key indicators are pointing in the right direction. Check out the video to learn what you should look for.