Gap price target raised to $32 from $29 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Gap (GAP) to $32 from $29 and keeps a Buy rating on the shares. Heading into Q4 earnings, most companies are expected to report strong results after a solid holiday season, though early Q1 trends have been choppier due to weather, labor market developments, and consumer confidence, the analyst tells investors in a research note. While near-term volatility may create buying opportunities, selective stock picking remains important as brand momentum is likely to drive performance differentials, the firm says.