Gap, Inc. (GPS): Easy Compares, Low Expectations, Improving Results...PT Increase - Jefferies

October 7, 2016 7:41 AM EDT
Get Alerts GPS Hot Sheet
Price: $23.84 -1.28%

Rating Summary:
    8 Buy, 25 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 22 | New: 54
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Jefferies analyst, Randal Konik, reiterated his Buy rating on shares of Gap, Inc. (NYSE: GPS) and raised his price target to $32 from $30 after September results lead the analyst to believe that inflections are taking place:

1) improved product response driving better than expected merchandise margins

2) accelerating trends at Old Navy

3) a bottom setting in at The Gap

The analyst was particularly encouraged with margins given the Fishkill distribution center disruption and sees significant near term opportunity considering easy compares and low expectations.

For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.

Shares of Gap, Inc. closed at $22.78 yesterday.

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