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Jefferies Lifts PT on Gap (GPS) to $51

March 18, 2013 8:14 AM EDT Send to a Friend
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Price: $39.92 --0%

Rating Summary:
    13 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 29 | Down: 15 | New: 8
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Jefferies boosted estimate and its price target on Gap, Inc. (NYSE: GPS) from $50 to $51 following meetings with the CEO and CFO.

"We recently hosted meetings with GPS's CEO and CFO and come away even more confident in the company's improving strategic direction and believe this is a multi-year recovery story," the analyst said. "We look for continued sales growth leading to operating leverage, improved returns, higher earnings and a higher stock price."

The firm raised Q1 EPS from $0.56 to $0.57 and FY13 from $2.80 to $2.85.

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 $36.39 yesterday.




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