Gap price target raised to $16 from $14 at UBS

UBS raised the firm’s price target on Gap (GAP) to $16 from $14 and keeps a Sell rating on the shares. Despite unfavorable weather, Gap delivered a 14c EPS beat in Q3, a credit to its improved execution, the analyst tells investors in a research note. At the same time, the firm sees limited top-line growth or margin expansion potential past this year and continues to believe Gap operates in a highly competitive environment.