Standpoint Research Upgrades Gap, Inc. (GPS) to Buy

Standpoint Research upgraded Gap, Inc. (NYSE: GPS) from Hold to Buy with a $24 price target, representing 22% upside.

The firm states, "GPS has dropped $2.80 (12.4%) since our downgrade and will probably start to head back up on same store sales and raised guidance news from pre-market this morning. Our target for next year is $24 (or 12X $2.00 in earnings potential). GPS was one of the worst performing names in the S&P during January and was oversold along with many others in its industry."

For more ratings news on Gap, Inc. click here and for the rating history of Gap, Inc. click here.

Shares of Gap, Inc. closed at $19.03 yesterday.

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