Citi Upgrades Gap (GPS) to Buy
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Citi upgrades Gap Inc (NYSE: GPS) from Hold to Buy. Price target lowered from $14 to $12.
Citi analyst says, "GPS reaffirmed $1.30-1.35 guid. Mgmt assumes current challenging economic environment continues & plans to engage in traffic driving initiatives this Holiday (focusing on value message at Old Navy & Gap in brand appropriate ways), improve balance of product (between core/emotional) at BR, & continues focus on product/messaging at Gap Brand."
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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