Deutsche Bank Upgrades Gap, Inc. (GPS) to Hold; Looking for Answers

Deutsche Bank upgraded Gap, Inc. (NYSE: GPS) from Sell to Hold. PT $18.

Deutsche analyst says, "We’re upgrading GPS to Hold, after Friday’s ~17.5% stock decline now implies 12.8x our FY11 EPS forecast and is within 6.5% of our $18 PT. While after last Thursday’s release many questions remain about the company, valuation and a re-set EPS bar provide a near-term baseline. Maintain $18 price target, with further downside risk from negative sentiment on apparel stocks, balanced by valuation in-line with what we believe investors are willing to pay for the stock."

For more ratings news on Gap, Inc. click here and for the rating history of Gap, Inc. click here.

Shares of Gap, Inc. closed at $19.22 yesterday.

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