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Gap price target lowered to $25 from $28 at BofA

Gap price target lowered to $25 from $28 at BofA

BofA analyst Lorraine Hutchinson lowered the firm’s price target on Gap (GAP) to $25 from $28 and keeps a Neutral rating on the shares following a Q4 beat that driven by positive comps at Gap, Old Navy and Banana Republic. The firm is raising its FY25 and FY26 estimates to $2.36 and $2.55, respectively, on the Q4 beat, but lowering it target as it rolls forward its valuation year and aligns the stock’s multiple with a peer average multiple.

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