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UPDATE: Wedbush Raises PT on The Gap on Solid February Comp

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Gap Announces Downsizing, FBR Analyst Agrees With Decision

In a report published Friday, Wedbush reiterated its Neutral rating on The Gap (NYSE: GPS), and raised its price target from $33.00 to $36.00.

Wedbush noted, “We believe the stock will react positively to a BTE Feb comp of +3%, which reflects ~3 point acceleration on a 2-year stack basis. In particular, we note 5 point sequential acceleration at ON (~40% of F12 sales) despite macro weakness which may have negatively affected the value consumer. Although there was a modest (4) point deceleration at BR, the company believes the weakness can be attributed to fashion that was too Spring forward. Similar to others, management alluded to Easter potentially aiding April rather than March.”

The Gap closed on Thursday at $35.87.

Latest Ratings for GPS

DateFirmActionFromTo
Jul 2015UBSDowngradesBuyNeutral
Jul 2015Tigress FinancialInitiates Coverage onNeutral
Jun 2015BB&T CapitalInitiates Coverage onHold

View More Analyst Ratings for GPS
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

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