Gap (GPS) Declines Amid No-Special Dividend Chatter

December 4, 2012 12:51 PM EST Send to a Friend
Get Alerts GPS Hot Sheet
Price: $28.83 +1.55%

Rating Summary:
    9 Buy, 23 Hold, 11 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 18 | New: 37
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Gap (NYSE: GPS) experienced its biggest one-day drop in over a year, shedding 9 percent intraday to trade at its lowest level since August. The decline relates to reports that GAP will not pay a special dividend, as some supposed.

While probably true, Jefferies analysts point out that GAP never said previously that it would pay a special dividend. They view the decline as a buying opportunity.

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