Gap, Inc. (GPS): Reiterating Market Perform Rating And PT - Cowen
Get Alerts GPS Hot Sheet
Rating Summary:
11 Buy, 24 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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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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