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Fly News Breaks for September 30, 2015
GPS
Sep 30, 2015 | 06:57 EDT
Baird analyst Mark Altschwager said he does not believe the departure of Stefan Larsson from Gap (GPS) reflects near-term issues at Old Navy, though the analyst does think his leadership at the company's strongest brand will be missed. To reflect a lower valuation multiple, Altschwager trimmed his price target on Gap shares to $34 from $38 and kept a Neutral rating on the stock.
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