Credit Suisse Raises price Target on Gap, Inc. (GPS) to $22 Following 2Q Report
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Credit Suisse maintained an Underperform rating on Gap, Inc. (NYSE: GPS), and raised the price target to $22.00 (from $21.00), following the company's 2Q earnings report.
Analyst C. Buss commented, "We are adjusting estimates following 2Q results given 1) volatile demand trends across all 3 concepts on a monthly basis; 2) increased marketing spend in 2H; and 3) FY guidance reinstated in the range of $1.87-1.92, below our prior expectation for $1.99. Ultimately, we expect earnings power to remain under pressure until the company addresses structural pricing and operational issues to better compete with faster, deep value retailer peers. We reiterate our Underperform rating, and raise our Target Price to $22 from $21."
Shares of Gap, Inc. closed at $25.88 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesCredit Suisse, Earnings, Christian Buss
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