Is Gap (GPS) Back From The Dead?
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Price: $20.91 +0.77%
Rating Summary:
11 Buy, 24 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
11 Buy, 24 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Is retailer Gap (NYSE: GPS) back from the dead? At least two analysts think so following the company's solid third quarter results and guidance after the close. This morning, Gap's stock is trading 10% higher.
Gap reported third quarter EPS of $0.35, 1 cent better than the analyst estimate of $0.34. Revenue for the quarter was $3.6 billion, versus the consensus of $3.57 billion. The company also reaffirmed their FY08 EPS guidance of $1.30 to $1.35. Even a slight beat and a reaffirmation of guidance is a huge positive in this brutal retail environment.
Analysts at both Cowen & Co and Citi upgraded Gap to Buy this morning after the results. Citi noted that Gap will focus on a value message at Old Navy & Gap this holiday season and improve the balance of product between core and emotional. Cowen said the recent sell-off in the shares is overdone given the company's continued margin improvement, rock solid balance sheet, and cheap valuation.
The Gap, Inc. is a global specialty retailer operating retail and online stores selling casual apparel, accessories, and personal care products for men, women and children under the Gap, Old Navy, Banana Republic, and Piperlime brands.
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Gap reported third quarter EPS of $0.35, 1 cent better than the analyst estimate of $0.34. Revenue for the quarter was $3.6 billion, versus the consensus of $3.57 billion. The company also reaffirmed their FY08 EPS guidance of $1.30 to $1.35. Even a slight beat and a reaffirmation of guidance is a huge positive in this brutal retail environment.
Analysts at both Cowen & Co and Citi upgraded Gap to Buy this morning after the results. Citi noted that Gap will focus on a value message at Old Navy & Gap this holiday season and improve the balance of product between core and emotional. Cowen said the recent sell-off in the shares is overdone given the company's continued margin improvement, rock solid balance sheet, and cheap valuation.
The Gap, Inc. is a global specialty retailer operating retail and online stores selling casual apparel, accessories, and personal care products for men, women and children under the Gap, Old Navy, Banana Republic, and Piperlime brands.
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