UPDATE: Topeka Capital Markets Initiates The Gap at Buy on More Consistent Sale Growth

In a report published Thursday, Topeka Capital Markets analyst Dorothy S. Lakner initiated coverage on The Gap

with a Buy rating and $44.00 price target. In the report, Lakner noted, “We are initiating coverage of GPS with a Buy rating and a $44 price target, given what we see as a return to more consistent sales growth across brands with ample room for operating margin improvement. In addition, we believe the upcoming analyst day on April 17, Gap's first in two years, should provide a boost to GPS shares, as it showcases the progress GPS has made, its future growth paths and the new talent we believe should help lead it to consistent topline growth and improvement in operating margin over the next several years.” The Gap closed on Wednesday at $37.19.