Morgan Stanley analyst Alex Straton raised the firm’s price target on Gap (GAP) to $31 from $30 and keeps an Overweight rating on the shares. Q3 EPS came in above consensus and guidance, driven by stronger-than-anticipated Gap, Old Navy and Banana Republic performance, the analyst tells investors. Gap’s seventh consecutive positive comp quarter and eleventh EPS beat is “lending further credibility to the brand reinvigoration strategy,” the analyst added.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GAP:
- Gap Inc. Hold Rating: Balancing Strong Q3 Performance with Growth Uncertainties
- Gap Inc’s Strong Performance and Growth Potential: Buy Rating Reaffirmed by Alexandra Straton
- Gap price target raised to $27 from $23 at BofA
- Gap Inc’s Strong Q3 Performance and Positive Outlook Tempered by Tariff Concerns: Hold Rating Maintained
- Gap price target raised to $24 from $22 at Wells Fargo