Gap, Inc. (GPS): Easy Compares, Low Expectations, Improving Results...PT Increase - Jefferies
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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.
Shares of Gap, Inc. closed at $22.78 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesJefferies & Co, Randal Konik
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