BofA raised the firm’s price target on Gap (GAP) to $23 from $21 and keeps a Neutral rating on the shares after the company reported Q2 adjusted EPS that beat the firm’s and consensus estimates. Gap’s new margin guidance was in line with the firm’s estimate, but BofA was “surprised to hear” about the magnitude of mitigation envisioned for FY26, adds the analyst, who increased the firm’s FY25 and FY26 EPS estimates by 1% and 5%, respectively.
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