Topeka Capital Markets Sees Strong December Sales for The Gap

In a report published Friday, Topeka Capital Markets analyst Dorothy S. Lakner reiterated a Buy rating and $50.00 price target on Gap Inc (NYSE: GPS).

In the report, Topeka Capital Markets noted, “GPS' comps for December were in line with our +1% estimate, led by a stronger than expected Old Navy comp offset by a worse, though not surprising, Gap comp. While GPS remains a story of the two brands--one strongly outperforming, the other underperforming with Banana in between, we believe 2015 should be a better year for the company, with its new CEO already working to re-energize Gap and Banana under two new brand presidents. Momentum at Old Navy and potential for upside in Gap and Banana keep GPS a Buy into 2015.”

The Gap closed on Thursday at $43.10.