Barclays raised the firm’s price target on Gap (GAP) to $33 from $26 and keeps an Overweight rating on the shares ahead of the Q1 report on May 29. Barclays highlights the Q1 Gap brand “promo inflection” to flat from its promotion tracker for the quarter. It views this as an indication with a “multi-year turnaround is in motion,” adding to Old Navy’s momentum.
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