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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

OCLR

Oclaro

$9.72

-1.25 (-11.39%)

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Oclaro management to meet with Jefferies »

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GMS

GMS Inc.

$29.79

-0.52 (-1.72%)

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GMS Inc. 6.95M share Secondary priced at $29.25 »

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APA

Apache

$54.91

-0.98 (-1.75%)

, HRL

Hormel Foods

$37.30

-0.3 (-0.80%)

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Earnings
Notable companies reporting before tomorrow's open »

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APA

Apache

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HRL

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1 (2.48%)

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FIT

Fitbit

$5.88

-0.16 (-2.65%)

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Fitbit CEO says early adopter segment saturated, says exploring new form factors »

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SQ

Square

$15.04

0.41 (2.80%)

19:57
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Upgrade
Square rating change  »

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FIT

Fitbit

$5.88

-0.16 (-2.65%)

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Fitbit says paid $23M for Pebble assets »

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SBUX

Starbucks

$57.57

0.03 (0.05%)

19:34
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Market researcher: Starbucks consumer perception dips after refugee hiring news »

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  • 22

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LB

Labarge

$58.13

0.43 (0.75%)

19:33
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L Brands sees Q1 comps down high-single to low-double digits »

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LB

Labarge

$58.13

0.43 (0.75%)

19:32
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L Brands sees FY17 comps down low-single digits »

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  • 23

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F

Ford

$12.67

-0.02 (-0.16%)

19:30
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Conference/Events
Ford to host sales conference call »

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  • 01

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GTLS

Chart Industries

$38.51

-1.21 (-3.05%)

19:27
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Chart Industries CEO Samuel Thomas named executive chairman »

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TSLA

Tesla

$273.51

-3.88 (-1.40%)

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  • 22

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PRU

Prudential

$110.50

-0.72 (-0.65%)

, WFC

Wells Fargo

$58.36

0.11 (0.19%)

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Prudential says could seek compensation from Wells Fargo over MyTerm products »

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PRU

Prudential

$110.50

-0.72 (-0.65%)

WFC

Wells Fargo

$58.36

0.11 (0.19%)

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PSA

Public Storage

$226.24

-1.49 (-0.65%)

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Public Storage reports Q4 core FFO $2.65, consensus $1.89 »

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CS

Credit Suisse

$15.35

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LZB

La-Z-Boy

$28.40

-1.05 (-3.57%)

19:09
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La-Z-Boy rating change  »

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CLD

Cloud Peak

$5.68

-0.19 (-3.24%)

19:06
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Cloud Peak 13.5M share Spot Secondary priced at $5.10 »

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  • 23

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SNAP

Snap Inc

18:47
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Snap Inc nears $200M ad deal, NY Post says »

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  • 02

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SBLK

Star Bulk Carriers

$9.59

0.29 (3.12%)

18:40
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Star Bulk Carriers reports Q4 EPS (29c), consensus (28c) »

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C

Citi

$60.62

0.07 (0.12%)

18:35
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PRAH

PRA Health

$59.98

-0.71 (-1.17%)

18:34
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PRA Health sees FY17 EPS $3.08-$3.18, consensus $2.96 »

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FGL

Fidelity & Guaranty Life

$26.30

-0.1 (-0.38%)

, ATH

Athene Holding

$51.45

0.38 (0.74%)

18:32
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Fidelity & Guaranty Life revives sale process, Insurance Insider says »

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FGL

Fidelity & Guaranty Life

$26.30

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ATH

Athene Holding

$51.45

0.38 (0.74%)

APO

Apollo Global

$22.25

0.05 (0.23%)

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PRAH

PRA Health

$59.98

-0.71 (-1.17%)

18:31
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PRA Health sees Q1 EPS 57c-62c, consensus 67c »

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NBR

Nabors Industries

$15.44

0.01 (0.06%)

18:30
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Nabors Industries reports Q4 EPS ($1.17) with items »

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AXGN

AxoGen

$10.50

-0.1 (-0.94%)

18:28
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AxoGen reiterates FY17 revenue growth view of at least 40% »

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