Nomura Securities Maintains a 'Neutral' on Gap, Inc. (GPS); Old Navy Brand President Departs

Nomura Securities maintains a 'Neutral' on Gap, Inc. (NYSE: GPS) price target of $18.00.

Analyst, Paul Lejuez, said, "GPS announced that Tom Wyatt, the president of Old Navy (ON), is leaving GPS to take a role at an education company (private company Knowledge Universe). GPS did not name his successor and will look at both internal and external replacements. ON has had a challenging year, with difficulties getting its marketing message and product to resonate. While it was not performing well recently under Wyatt, it will take a while for a replacement to be found and for the replacement to have an impact on product. On a positive note, GPS announced that Tracy Gardner, most recently at J Crew, will be working with Gap Brand as a consultant for its women’s product. Her perspective can’t hurt the struggling business, but the brand’s deep-rooted problems are not that easy to fix."

For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.

Shares of Gap, Inc. closed at $19.37 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• UBS Reiterates Buy Rating on HF Sinclair (DINO)