Gap price target raised to $28 from $25 at BofA

BofA raised the firm’s price target on Gap (GAP) to $28 from $25 and keeps a Neutral rating on the shares after a Q3 earnings beat and increase of fiscal year sales and operating income guidance to reflect the beat. The firm is raising its FY24 and FY25 EPS estimates by 9% and 5% to $1.97 and $1.99, respectively, following the Q3 beat, the analyst noted.