Gap price target raised to $29 from $26 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Gap (GAP) to $29 from $26 and keeps a Buy rating on the shares. The firm remains constructive on Gap following the Q3 beat and raise quarter, as the results demonstrate continued broad-based momentum in the core Old Navy and Gap brands, where strategic initiatives such as compelling fashion, culturally relevant marketing, and category expansion are resonating with consumers and driving solid comp growth, the analyst tells investors in a research note.