Canaccord Raises Ests on Gap (GPS) Following Strong May Comps
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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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Gap, Inc. (NYSE: GAP) shares are up about 2 percent Friday following issuance of strong monthly sales numbers on Thursday night.
For the month of May, Gap said net sales were up 11 percent to $1.22 billion, while global comps rose 7 percent.
Analyst firm Canaccord Genuity is raising estimates on Gap following the update. For fiscal 2013, the firms EPS outlook moves from $2.63 to $2.65 with comps growth of 1.6 percent.
For Q2, Canaccords comps outlook moves from 0.7 percent up to 4.7 percent, while its EPS outlook improved $0.02 cents to $0.60.
Canaccord commented, "We believe the stock’s current valuation of 16x our FY13 EPS estimate and 8x FY13E EV/EBITDA based on the after-hours quote of $42 fairly reflects our long-term growth expectations." The firm has Gap at Hold with a price target of $41.
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 $40.98 yesterday.
For the month of May, Gap said net sales were up 11 percent to $1.22 billion, while global comps rose 7 percent.
Analyst firm Canaccord Genuity is raising estimates on Gap following the update. For fiscal 2013, the firms EPS outlook moves from $2.63 to $2.65 with comps growth of 1.6 percent.
For Q2, Canaccords comps outlook moves from 0.7 percent up to 4.7 percent, while its EPS outlook improved $0.02 cents to $0.60.
Canaccord commented, "We believe the stock’s current valuation of 16x our FY13 EPS estimate and 8x FY13E EV/EBITDA based on the after-hours quote of $42 fairly reflects our long-term growth expectations." The firm has Gap at Hold with a price target of $41.
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 $40.98 yesterday.
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