Following an upbeat earning report, Janney Capital upgraded shares of Gap Inc.(NYSE: GPS) to buy from neutral on Friday.
Adrienne Tennant stated five reasons for the upgrade:
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- General sector strength, Janney analysts expect softlines sector inventory to reduce. This may imply improving turnover ratios, lower holding costs, faster production and responsiveness.
- Old Navy strength and momentum that is sufficient enough to offset weaker divisions
- Best in class management team
- Endless global growth opportunities
- improving margins
Gap shares are currently trading at 45.27