Jefferies Reiterates “Buy” Rating on The Gap (GPS)
Jefferies reported on Friday that it is satisfied with the March sales results for apparel company, The Gap Inc. (GPS).
Following the company’s March sales results, the firm has maintained a “Buy” rating and $56 price target on GPS. This price target suggests a 32% increase from the stock’s current price of $37.90.
An analyst from the firm commented, “we think the -1% comp is good enough considering the tough compare and headwinds from the Easter shift/cooler weather.”
“Further, we expect momentum to accelerate in April which benefits from several tailwinds. Bottom line, GPS remains one of our top picks…”
The Gap shares were mostly flat during premarket trading Friday. The stock has increased 43% in the past year.
The Bottom Line
Shares of The Gap Inc. (GPS) have a 1.58% yield, based on Thursday’s closing price of $37.90.
The Gap Inc. (GPS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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