Gap, Inc. (GPS) PT Raised to $34 at Barclays
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Price: $24.55 --0%
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 21
Rating Summary:
14 Buy, 23 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 21
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Barclays raised its price target on Gap, Inc. (NYSE: GPS) to $34.00 (from $32.00) while maintaining a Overweight rating.
Analyst Chethan Mallela raises the PT noting NT momentum (simultaneous comp sales growth and GM expansion) along with multi-year margin runway justifies a premium multiple. The analyst raises EPS estimates and the $34/share valuation is based on 15x P/E multiple on CY 2018 EPS estimate of $2.26.
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