BMO Capital analyst Simeon Siegel raised the firm’s price target on Gap to $18 from $14 and keeps a Market Perform rating on the shares. The company reported a “strong” Q4 earnings beat, with sales coming slightly ahead as Old Navy sales inflect positive and with Gap, Banana Republic, and Athleta declines lessening, the analyst tells investors in a research note. Gap’s gross margin was also much stronger than expected, driven by its merchandise margin, the firm added.
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