Friedman Billings Starts Great Atlantic & Pacific Tea (GAP) at Outperform
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Friedman, Billings, Ramsey initiates coverage on The Great Atlantic & Pacific Tea Company (NYSE: GAP) with an Outperform rating and $28.50 price target.
Founded in 1859, A&P is one of the nation's first supermarket chains. The Company operates 405 stores in 9 states and the District of Columbia under the following trade names: A&P, Waldbaum's, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center and Food Basics.
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