BMO Capital analyst Simeon Siegel raised the firm’s price target on Gap (GAP) to $25 from $23 but keeps a Market Perform rating on the shares. The company’s Q3 earnings beat was “strong” with sales slightly ahead of estimates and gross margins coming in “stronger”, the analyst tells investors in a research note. BMO adds however that while it is encouraged by Gap’s market share gains and merchandise margin expansion, it believes that shares at current levels “reflect the green shoots”.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GAP:
- Gap price target raised to $33 from $32 at Evercore ISI
- Gap price target raised to $30 from $28 at Wells Fargo
- Gap price target raised to $16 from $14 at UBS
- Gap price target raised to $30 from $29 at Morgan Stanley
- Gap price target raised to $28 from $25 at BofA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
