Nomura Securities Maintains a 'Neutral' on Gap, Inc. (GPS); Positive on New Old Navy President

May 1, 2012 10:55 AM EDT
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Price: $24.08 +1.35%

Rating Summary:
    8 Buy, 25 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Nomura Securities maintains a 'Neutral' on Gap, Inc. (NYSE: GPS) price target of $22.00.

Analyst, Paul Lejuez, said, "GPS named Stefan Larsson as Global Brand President of Old Navy. Larsson will not join the company until October 2012, so in the near term he won’t have an impact. Larsson, more of an operator than a merchant, joins ON from H&M, where he spent 15 years, which should prove valuable at ON (and GPS in general). ON faces a tough competitive set (incl. mass merchants) but may also be benefitting from JCPenney's (NYSE: JCP) weakness. Although we expect upside to 1Q EPS (we are at $0.44 vs. consensus of $0.39), the stock is up 54% YTD (vs. the group up 24%) and expectations are high."

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 $28.50 yesterday.

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