Gap, Inc. (GPS) PT Raised to $34 at Barclays

Barclays raised its price target on Gap, Inc. (NYSE: GPS) to $34.00 (from $32.00) while maintaining a Overweight rating.

Analyst Chethan Mallela raises the PT noting NT momentum (simultaneous comp sales growth and GM expansion) along with multi-year margin runway justifies a premium multiple. The analyst raises EPS estimates and the $34/share valuation is based on 15x P/E multiple on CY 2018 EPS estimate of $2.26.

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