Gap, Inc. (GPS): Reiterating Market Perform Rating And PT - Cowen

November 18, 2016 7:31 AM EST
Get Alerts GPS Hot Sheet
Price: $24.64 +4.14%

Rating Summary:
    8 Buy, 25 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 32 | Down: 30 | New: 8
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Cowen analyst, Oliver Chen, reiterated his Market Perform on shares of Gap, Inc. (NYSE: GPS) despite overall comps being negative since for 6 consecutive quarters. Why? Inventory control & merch. margins were brighter spots in 3Q and the company is focused on quality, driving scale advantages & interjecting product innovation which can set it apart.

The analyst stated "GPS has a prudent focus on protecting & growing margins, returning cash & driving a flexible supply chain. Improved comp store sales consistency can happen with a focus on supply chain, personalized/mobile technology, and disciplined inventory management. Product acceptance risk at Gap division points us toward lack of near-term upside, as merchandise margins could be under pressure due to assortment fixes taking time".

No change to the $25 PT.

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 $30.71 yesterday.

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