Piper Jaffray analyst, Neely Tamminga cut her PT on Gap, Inc. (NYSE: GPS) to $21 from $25 after sales comps came in at -7% for April and -5% for the quarter. Management expects FQ1 EPS in the range of $0.31 to $0.32 (vs. consensus of $0.44). No change to Underwight rating.

The new PT is based on the same 5x FY17E EV/EBITDA multiple.

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 $21.81 yesterday.

Analyst Comments Analyst PT Change

Fitch Cuts Gap, Inc. (GPS) to Junk StatusMay 11, 2016 9:23 AM Stifel Cuts Price Target on Gap, Inc. (GPS) Following Weak April Results May 10, 2016 9:27 AM FBR Capital Remains Sidelined on Gap, Inc. (GPS) Following April Review May 10, 2016 8:41 AM Wedbush Cuts Price Target on Gap, Inc. (GPS) to $19 Following Weak April May 10, 2016 7:37 AM Topeka Capital Downgrades Gap, Inc. (GPS) to HoldMay 10, 2016 6:54 AM Old Navy, Banana Republic weigh on Gap as sales slip yet againMay 9, 2016 4:53 PM Gap, Inc. (GPS) Comps Fell 7% in April ; Prelim. Q1 EPS Misses ViewsMay 9, 2016 4:23 PM Gap Inc. Reports April and First Quarter Sales ResultsMay 9, 2016 4:16 PM