Evercore ISI raised the firm’s price target on Gap (GAP) to $28 from $25 and keeps an Outperform rating on the shares. Q3 results that “surprised on the upside” with stronger-than-expected same-store sales and gross margin improvements signal a shift from “fixing fundamentals to a more aggressive growth strategy,” the analyst tells investors. Q4 guidance the firm views as “conservative” sets the stage for potential outperformance, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GAP:
Disclaimer & DisclosureReport an Issue
