JPMorgan upgraded Gap (GAP) to Overweight from Neutral with a price target of $30, up from $28. The firm sees a sales, margin and balance sheet inflection for the company following four straight quarters of revenue growth and seven consecutive quarters of market share expansion. JPMorgan expects total addressable market expansion at the Gap brand, quality and value destination with Active accelerator at Old Navy, and multi-year growth post the assortment reset at Athleta.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GAP:
- Thanksgiving Online Sales Surge 4% as Retailers Double Down on Discounts
- Foot Locker target lowered to $32, added to ‘Top 5 Outperformers’ at Evercore
- Gap (GAP) Shows Signs of Success, Raising Its Guidance Before the Holiday Season
- Gap (NYSE:GAP) Stock Rises Post-Earnings on Positive Analyst Sentiment
- Gap rises 13.3%