Gap price target raised to $20 from $16 at Barclays

Barclays analyst Adrienne Yih raised the firm’s price target on Gap to $20 from $16 and keeps an Overweight rating on the shares. Gap’s Q3 report “provides an early proof point of what can happen when you add improving sales to cleaner inventory and tight expense control to drive margins,” the analyst tells investors in a research note. The firm says this is just the beginning of a longer-term margin expansion journey should the company convincingly turn all four brands.