Gap price target raised to $24 from $22 at Wells Fargo

Wells Fargo raised the firm’s price target on Gap (GAP) to $24 from $22 and keeps an Equal Weight rating on the shares. Following a tough Q2, Gap delivered a solid print which surpassed expectations on top-line, while a meaningful gross margin beat was a nice surprise, the firm says. Combined with greater certainty on tariff offsets into 2026, Bulls seem back in charge, Wells adds.