Gap Inc GPS shares are trading higher by $3.32 (14 percent) at $26.11 in Friday's session. Despite mixed comps, the issue is sharply higher, which may be attributed to a Deutsche Bank upgrade from Sell to Hold with a $24 price target.
Following a sharply higher open ($24.26 vs. Thursday's close of $22.78), it continued higher to $26.67 before taking a breather. That high coincides with a trio of highs from $26.65 to $26.78 on August 25-28.
Since making that high, it has consolidated at the $26 area.
Today's price action it taking place on much higher than average volume. So far, 20 million shares have traded compared to its 20-day average of only of 5.6 million.
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