Market Overview

UPDATE: Canaccord Upgrades Gap Due To Supply Chain Initiatives, New Online Services


In a note released early Wednesday morning, Canaccord analyst Laura Champine upgraded shares of The Gap (NYSE: GPS) from Hold to Buy and raised the price target from $47 to $51.

Champine explained that the upgrade is due primarily to supply-chain initiatives and new online services.

In terms of the supply-chain initiatives, Champine expects the company to be able to reduce costs, shorten lead times, provide a more consistently trendy assortment and drive long-term margin expansion.

Looking to the new online services, Champine believes it will improve traffic and conversion rates online as well as in stores.

Driven by expected long-term margin expansion, Champine is raising her long-term EPS estimates by an average of $0.17 per year.

Following the upgrade, shares of Gap are trading up just under one percent in the pre-market session.

Latest Ratings for GPS

Nov 2020JP MorganUpgradesNeutralOverweight
Nov 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for GPS
View the Latest Analyst Ratings


Related Articles (GPS)

View Comments and Join the Discussion!

Posted-In: Cannacord Genuity Laura ChampineAnalyst Color News Upgrades Price Target Analyst Ratings

Latest Ratings

CAMTStifelInitiates Coverage On19.0
ELMDNorthland Capital MarketsInitiates Coverage On15.0
DKNGUBSInitiates Coverage On52.0
DIODTruist SecuritiesInitiates Coverage On84.0
TGTArgus ResearchUpgrades205.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at