Jefferies Raises Target on Gap (GPS) to $30 After Solid Q4

Jefferies lifted its price target on Gap, Inc. (NYSE: GPS) form $28 to $30 following Q4 results.

The firm comments, "What did we learn from 4Q? 1) Confidence in the product is improving; 2) earnings revisions are moving up; 3) '12 outlook looks conservative (we remain Street high); 4) lots of tailwinds ahead; and 5) GPS continues to increase shareholder value w/ buybacks and dividends. What does it mean? This stock has minimal downside and significant upside. With shares under-owned yet fundamentals starting to improve, we reiterate our Buy rating."

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 $23.52 yesterday.

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