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Barclays Capital is Putting the Brakes on Gap Shares (GPS)

By Dividend.com Staff
November 9th, 2009

barclays-capital-is-putting-the-brakes-on-gap-shares-gps

Barclays Capital is telling investors to take a step back with the Gap, Inc. (GPS).

The firm is cutting the rating on the retailer to an Equal Weight from Overweight on what it expects to be a sluggish 2010. The firm is also cutting the price target cut by a dollar to $25.

The Bottom Line
We recently removed shares of GPS from our “recommended” list back on Nov.2, when the shares were trading at $21.34. The company has a dividend yield of 1.48%, based on Friday’s closing stock price of $23.03. The stock has technical support in the $19-$20 price area. if the shares can firm up, we see overhead resistance around the $24-$27 price levels. We would remain on the sidelines for now.

Gap, Inc. (GPS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.