Analysts Slash Price Target On Gap - Read Why

Analysts Slash Price Target On Gap - Read Why
  • Analysts lowered the price target on Gap Inc (NYSEGPS) following the company's CEO change and dim outlook.
  • Wells Fargo analyst Ike Boruchow downgraded from Overweight to Equal-Weight and lowered the price target to $10 from $16 (20% upside).
  • The analyst said he could not recommend a company that is struggling to handle company-specific challenges in addition to growing macro-economic pressures.
  • The analyst noted Gap's fundamentals are deteriorating far worse than expected.
  • RelatedGap CEO Sonia Syngal Steps Down; Company Anticipates Dim Q2 Outlook
  • Morgan Stanley analyst Kimberley Greenberger lowered the price target to $7.5 (10% downside) from $8 and kept an Underweight rating on the shares.
  • Credit Suisse analyst Michael Binetti lowered the price target to $8 (4% downside) from $10 and kept a Neutral rating on the shares.
  • Telsey Advisory Group analyst Dana Telsey maintained Gap with a Market Perform and lowered the price target from $13 to $10.
  • Barclays analyst Betsy Graseck maintained the Underweight rating and reduced the price target from $7 to $6 (28% downside).
  • BofA analyst Lorraine Hutchinson maintained Gap with an Underperform and lowered the price target from $9.6 to $8.
  • Price Action: GPS shares are trading lower by 4.79% at $8.34 on the last check Tuesday.
  • Photo Via Wikimedia Commons

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