UPDATE: JP Morgan Raises PT to $26 on The Gap - Gap (NYSE:GPS)

27% profit every 20 days?

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JP Morgan raises its price target on Neutral-rated The Gap (NYSE: GPS) to $26 from $21 as the company delivered a surprise upside in comps. JP Morgan says, "Following seven months in a row of negative MSD comps, the company posted a 4% comp increase last month. In a month when every apparel retailer benefitted from the warm weather, the biggest winner was Banana Republic with a 12% comp—driven by strength in both its men's and women's business while being less promotional. Core Gap posted a 1% comp increase, and importantly the new product from the revamped design team hit stores on February 10th."GPS closed at $25.05 a share on Thursday.

27% profit every 20 days?

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