Gap price target raised to $28 from $24 at TD Cowen

TD Cowen analyst Jonna Kim raised the firm’s price target on Gap to $28 from $24 and keeps a Hold rating on the shares. The firm believes positive comps at BR and Athleta and a higher than previously anticipated commodity benefit drove upside in 1Q24 and said they are getting more constructive on the stock as all brands are starting to see progress from management’s efforts to rejuvenate.