Gap price target raised to $30 from $28 at Wells Fargo

Wells Fargo raised the firm’s price target on Gap (GAP) to $30 from $28 and keeps an Overweight rating on the shares. Gap’s Q3 showed that the turnaround has legs, with a fifth consecutive solid bottom-line beat and raise, the analyst tells investors in a research note. Any slowdown witnessed during Q3 appears to be transitory and the Gap turnaround story appears intact, Wells says.