Gap, Inc. (GPS) Comps Fell 7% in April ; Prelim. Q1 EPS Misses Views

Fitch Cuts Gap, Inc. (GPS) to Junk Status

Fitch Ratings has downgraded the Long-Term Issuer Default Rating for The Gap, Inc. (NYSE: GPS)(Gap) to 'BB+' from 'BBB-'. The Rating Outlook is Stable. A full list of rating actions follows at the end of this release.

The downgrade reflects Fitch's reduced confidence in stabilization of sales, expectations of continued gross margin volatility, and belief that Gap will need to continue using real estate actions and large-scale cost reduction programs to protect EBITDA in the face of sales declines. Fitch expects EBITDA to decline to the $2 billion range in 2016 versus $2.3... More

Stifel Cuts Price Target on Gap, Inc. (GPS) Following Weak April Results

Stifel maintained a Buy rating on Gap, Inc. (NYSE: GPS), and cut the price target to $28.00 (from $35.00), following the company's weak April results. The company established 1Q EPS guidance in the range of $0.31-$0.32, well below the consensus of $0.44. Margins will be... More

FBR Capital Remains Sidelined on Gap, Inc. (GPS) Following April Review

FBR Capital maintained a Market Perform rating and $27.00 price target on Gap, Inc. (NYSE: GPS) following the company's April review. GPS' SSS was 7%, missing the consensus estimates of /+1.1%. The company guided EPS to $0.31$0.32, versus consensus of $0.44. Management indicated once again that elevated inventory levels weighed on GM.

Analyst Susan Anderson commented, "GPS reported an April SSS miss of 7%, versus FBR/consensus... More

Wedbush Cuts Price Target on Gap, Inc. (GPS) to $19 Following Weak April

Wedbush maintained a Neutral rating on Gap, Inc. (NYSE: GPS), and cut the price target to $19.00 (from $25.00), following weak April results. GPS reported April SSS of (7)%, well below consensus of +0.5%, driven by disappointing results across all three divisions. Management guided 1Q EPS in the range of $0.31- $0.32... More

Topeka Capital Downgrades Gap, Inc. (GPS) to Hold

Topeka Capital downgraded Gap, Inc. (NYSE: GPS) from Buy to Hold.

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.

Gap Inc (GPS) PT Reduced to $21 at Piper Jaffray

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... More