Jefferies Reiterates a 'Buy/Top Pick' on Gap, Inc. (GPS); Stepping Back In

Jefferies reiterates a 'Buy/Top Pick' on Gap, Inc. (NYSE: GPS) price target raised from $37 to $40.

Analyst, Randal J. Konik, said, "We hosted meetings with GPS's CEO/CFO and come away even more confident in the company's improving strategic direction. We like that supply is being rationalized, higher return businesses (online) are being focused on, int'l expansion is being smartly managed in a capital light manner, and the product/design process is improving. Bottom line, despite this progress GPS is under-appreciated and under-owned and remains our top pick."

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 $25.96 yesterday.

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