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GPS

Gap

09:22
10/07/16
10/07
09:22
10/07/16
09:22

Gap moves sharply higher after September comparable sales update

The company last night gave an update and the stock is reacting higher this morning, with price last at $24.45 and up over 7.3%. At that price next resistance is at $25.36. Support is at $23.77. Deutsche Bank upgraded the shares to Hold and set its price target at $24. Jefferies issued a positive note and raised its price target to $32.

GPS Gap

08/19/16
MSCO
08/19/16
NO CHANGE
Target $21
MSCO
Underweight
Gap valuation stretched adn upside limited, says Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger said Gap's valuation appears stretched and upside is limited. The analyst said even the most bullish expectations for $2.25-$2.30 in 2017 implies zero earnings growth since 2012, with less scope for cuts in marketing expense, wage inflation, and other SG&A inflation. Greenberger has an Underweight rating on Gap and a $21 price target on shares.
10/07/16
DBAB
10/07/16
UPGRADE
Target $24
DBAB
Hold
Gap upgraded to Hold from Sell at Deutsche Bank
Deutsche Bank analyst Paul Trussell upgraded Gap to Hold saying the company's near- to medium-term setup is more favorable amid easing compares over the next few months and an improved apparel backdrop. Trussell raised his price target for the shares to $24 from $18.
10/07/16
UBSW
10/07/16
NO CHANGE
Target $16
UBSW
Sell
Gap distribution center fire impact not done being felt, says UBS
UBS analyst Michael Binetti noted Gap's distribution center fire in August had a significant impact on September sales and that the company estimates that the fire will be a 3 point drag to October same-store sales as well. Additionally, Binetti said Florida, Georgia and South Carolina account for 10% of the company's North America store count and that Gap will close some stores amid this weekend's hurricane, further impacting October sales. The company mentioned that merchant margins were higher than expected which should offset any negative earnings impact, however. The analyst is cautious of the company's ability to pull back on promotions to drive a comp inflection and reiterated his Sell rating and $16 price target on Gap shares.
10/07/16
JEFF
10/07/16
NO CHANGE
Target $32
JEFF
Buy
Jefferies sees 'sizable upside potential' in Gap shares
Jefferies analyst Randal Konik raises his price target for Gap shares to $32 from $30 following the retailer's September results. Trends are Old Navy are accelerating while a bottom setting in at The Gap, Konik tells investors in a research note. The analyst sees an "asymmetric risk/reward" for shares with downside "fairly limited" and "sizable upside potential." He sees easy comparisons as a near-term catalyst and keeps a Buy rating on the shares.

TODAY'S FREE FLY STORIES

BIIB

Biogen

$280.32

-0.25 (-0.09%)

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CNS

Cohen & Steers

$40.58

0.12 (0.30%)

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ORCL

Oracle

$51.11

0.16 (0.31%)

, BAC

Bank of America

$22.79

-0.035 (-0.15%)

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FINL

Finish Line

$13.65

0.92 (7.23%)

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ORCL

Oracle

$51.11

0.156 (0.31%)

11:28
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Conference/Events
Oracle management to meet with Evercore ISI »

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OXY

Occidental Petroleum

$59.84

-0.28 (-0.47%)

11:25
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HTZ

Hertz

$10.34

0.8046 (8.43%)

11:25
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BABA

Alibaba

$141.72

-1.31 (-0.92%)

11:24
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Alibaba-backed Best Inc aiming to raise up to $750M in IPO, WWD reports »

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NFG

National Fuel

$56.53

0.16 (0.28%)

11:22
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National Fuel management to meet with Jefferies »

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NFG

National Fuel

$56.53

0.16 (0.28%)

11:22
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National Fuel management to meet with Evercore ISI »

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FN

Fabrinet

$42.84

2.82 (7.05%)

, AAOI

Applied Optoelectronics

$65.87

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11:18
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Fabrinet rises, Applied Optoelectronics sinks after Needham uncovers AWS deal »

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MTSI

MACOM

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2.44 (0.24%)

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ADNT

Adient

$64.75

0.62 (0.97%)

11:17
06/26/17
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Adient to hold a meeting »

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ORCL

Oracle

$51.32

0.37 (0.73%)

, BAC

Bank of America

$22.83

0.0134 (0.06%)

11:17
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Periodicals
Oracle signs BofA as customer for ERP, financial planning software, CNBC says »

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ORCL

Oracle

$51.32

0.37 (0.73%)

BAC

Bank of America

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SAP

SAP

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AMZN

Amazon.com

$1,003.74

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$NSD

NASDAQ Market Internals

11:17
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$NYE

NYSE Market Internals

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11:15
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ARNC

Arconic

$23.86

-1.68 (-6.58%)

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ARNC

Arconic

$23.99

-1.55 (-6.07%)

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RAD

Rite Aid

$3.11

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, WBA

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RAD

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CAR

Avis Budget

$24.24

1.23 (5.35%)

11:10
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PODD

Insulet

$49.38

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11:05
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BA

Boeing

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GRUB

GrubHub

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