Goldman Raises Price Target on Gap (GPS)

May 10, 2013 9:56 AM EDT
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Price: $24.09 +0.50%

Rating Summary:
    8 Buy, 25 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Goldman Sachs today maintained a Buy rating on Gap, Inc. (NYSE: GPS) and raised its price target to $46.00 (from $41.00). Yesterday reported strong April sales and boosted its EPS outlook, beating consensus.

Commenting, analyst Lindsay Drucker Mann said, "GPS seems to have cleared the key litmus test for investors by delivering positive March/April comps on top of 2012's difficult comparisons, and looks on track to meet its 'modest comp improvement' FY13 target."

"We are nudging up FY13/14 EPS to $2.83/$3.34 from $2.81/$3.30to reflect the 1Q upside with some back half reinvestment, and are about 10% above consensus," added Mann.

For an analyst ratings summary and ratings history on Gap, Inc. (NYSE: GPS) click here. For more ratings news on Gap, Inc. click here.

Shares of Gap, Inc. closed at $38.81 yesterday.

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