Bank of America Downgrades Gap To Underperform, Shares Drop

Bank of America downgraded Gap, Inc. (The)

to Underperform. The target price for Gap has been lowered from $45 to $42. Gap shares have gained 8.53% over the past 52 weeks, while the S&P 500 index has surged 20.10% in the same period. Gap's shares fell 1.79% to $43.85 in pre-market trading.