Gap price target raised to $25 from $24 at Goldman Sachs

Goldman Sachs analyst Brooke Roach raised the firm’s price target on Gap to $25 from $24 and keeps a Buy rating on the shares. The analyst believes sequentially strengthening execution on the back of recent leadership changes and a renewed focus on brand health is starting to take root at Gap. This is evidenced by improving brand momentum, traffic, and comp performance, the analyst tells investors in a research note. The firm continues to see a healthy margin expansion opportunity in fiscal 2024 and beyond for the company.