Barclays raised the firm’s price target on Gap (GAP) to $32 from $31 and keeps an Overweight rating on the shares. The company’s Q3 report is the fourth consecutive quarter of sales growth and margin expansion with Old Navy, Gap, and Athleta gaining market share, the analyst tells investors in a research note. The firm says Gap’s turnaround is gaining momeumtum across all brands.
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Read More on GAP:
- Gap Inc. Reports Solid Q3 Growth, Raises Outlook
- Closing Bell Movers: Gap jumps 15% after Q3 earnings beat, guidance raise
- GAP Earnings: Gap Stock Rises 13% on Strong Financial Results and Raised Guidance
- Gap reports Q3 online sales up 7% y/y; represented 40% of total net sales
- Gap reports Q3 gross margin 42.7%, up 140 bps y/y