Nomura Securities Maintains a 'Neutral' on Gap, Inc. (GPS); Adjusting Numbers After Q2 Review
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Price: $24.55 --0%
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on Gap, Inc. (NYSE: GPS) price target lowered from $20 to $18.
Nomura analyst, Paul Lejuez, says, "Reported 2Q EPS of $0.35 vs. our estimate of $0.34 and consensus of $0.34. While 2Q was helped by int’l growth and good expense management, the top-line issues at GPS’ core domestic businesses remain and 2H headwinds include significantly higher cost pressures, fewer expense cutting options and a difficult macro backdrop. We believe the company will miss F11 EPS guidance of $1.40-$1.50 (we are at $1.38 vs. consensus of $1.46). We are increasing our F11E to $1.38 from $1.29, based on higher margins than previously forecast. Our F12E of $1.77 is unchanged."
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 $15.52 yesterday.
Nomura analyst, Paul Lejuez, says, "Reported 2Q EPS of $0.35 vs. our estimate of $0.34 and consensus of $0.34. While 2Q was helped by int’l growth and good expense management, the top-line issues at GPS’ core domestic businesses remain and 2H headwinds include significantly higher cost pressures, fewer expense cutting options and a difficult macro backdrop. We believe the company will miss F11 EPS guidance of $1.40-$1.50 (we are at $1.38 vs. consensus of $1.46). We are increasing our F11E to $1.38 from $1.29, based on higher margins than previously forecast. Our F12E of $1.77 is unchanged."
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 $15.52 yesterday.
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