Barclays lowered the firm’s price target on Gap to $11 from $13 and keeps an Equal Weight rating on the shares. The company’s Q4 results disappointed, with a miss on comp, the analyst tells investors in a research note. The firm says that while Gap’s inventory "is cleaner," it expects material sales deleverage on negative comp sales in 2023.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on GPS:
- Mixed Q4 Results Pull Down Gap (NYSE:GPS) Stock
- Gap sees FY23 revenue in low to mid-single digit range, consensus $15.74B
- Gap sees Q1 revenue down in mid-single digit range, consensus $3.51B
- Gap chief people officer Peters to leave at end of the year
- Gap announces more actions estimated to result in $300M in annualized savings