Gap price target lowered to $26 from $29 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Gap to $26 from $29 and keeps a Market Perform rating on the shares. The company reported “solid” results in Q2, with sales and EPS beating expectations for the fourth consecutive period, the analyst tells investors. While the firm is encouraged by the company’s current improvement and elevated expectations are now built in, Telsey maintains its price target.