Gap price target raised to $33 from $22 at Citi

Citi raised the firm’s price target on Gap (GAP) to $33 from $22 and keeps a Buy rating on the shares. The firm expects Gap to report a Q1 beat, driven by stronger sales and margins, particularly at Gap. With shares up 54% since mid-April and market expectations high, however, the stock’s risk/reward is balanced into the Q1 print, the analyst tells investors in a research note.