Gap price target lowered to $27 from $30 at TD Cowen

TD Cowen analyst Jonna Kim lowered the firm’s price target on Gap (GAP) to $27 from $30 and keeps a Buy rating on the shares. The firm expects Q4 beats across specialty retail but says guidance will likely be conservative. TD likes the setup for Bath & Body Works (BBWI) and says American Eagle’s (AEO) inexpensive valuation combined with a long-term financial update expected on earnings could be a positive catalyst.