Gap, Inc. (GPS) PT Raised to $28 at Cowen

Cowen analyst Oliver Chen raised the price target on Gap, Inc. (NYSE: GPS) to $28.00 (from $24.00) while maintaining a Market Perform rating.

The analyst commented, "Gap division is now a smaller part of the business (30% of FY20) as Old Navy & Athleta grow and comprise the majority. Re-purposed inventory plans, marketing investment, execution on value, and loyalty program innovation as well as balance sheet are key positives as we look for continued consistency in performance."

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