Nomura Securities Maintains a 'Neutral' on Gap, Inc. (GPS); Q2 Review: Gaining Momentum

August 17, 2012 9:05 AM EDT
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Price: $23.90 -1.24%

Rating Summary:
    8 Buy, 25 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 16 | New: 10
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Nomura Securities maintains a 'Neutral' on Gap, Inc. (NYSE: GPS) price target of $25.00.

Analyst, Paul Lejuez, said, "Gap Brand is gaining momentum, helping to drive strong results in the qtr. Mgmt raised annual guidance to $1.95-$2.00 (vs previous $1.78-$1.83). Improved product is resonating at Gap Brand and Old Navy, which could provide potential upside to consensus forecasts (we are at $2.25 vs cons of $2.09), although a higher expense outlook may limit some of the upside. We believe the risk/reward skews favorably, although the macro environment and the historical inconsistency of Gap Brand and Old Navy keep us on the sidelines."

Our F12E EPS of $2.25 and F13E EPS of $2.45 remain unchanged.

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 $34.34 yesterday.

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