Cowen Reiterates Market Perform on Gap, Inc. (GPS) Flowing 2Q Report
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Cowen reiterated a Market Perform rating and $25.00 price target on Gap, Inc. (NYSE: GPS) following the company's 2Q earnings report. GPS reported adjusted EPS of $0.60 vs. the Street at $0.59 and management's guidance of $0.58-$0.59. Management updated their FY16 EPS guide and is now expecting adjusted EPS to be in the range of $1.87-$1.92, down from prior of ~$1.92.
Analyst Oliver Chen commented, "GPS 2Q Adj. EPS beat driven largely by gross margin (flat vs. Cowen est. -140bp). Also, we're encouraged that ON rebounded in 2Q and 2H seems promising. However, guide adjustment assumes likelihood that traffic remains inconsistent, & both Gap and especially BR continue to struggle to find favor with consumers. Activewear could be a growth driver over the long-term."
Shares of Gap, Inc. closed at $25.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
- FBR Capital Cuts Price Target on Express (EXPR) Following 3Q EPS Miss
- Dougherty & Co Starts CardioNet (BEAT) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesCowen & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!