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Fly News Breaks for October 9, 2015
GPS
Oct 9, 2015 | 07:15 EDT
As previously reported, MKM Partners downgraded GAP to Neutral from Buy and lowered its price target to $29 from $40. Analyst Roxanne Meyer said the Q3 shortfall was likely across all brands and significantly cut sales and margin estimates. Meyer said the Old Navy September comp miss is likely more than weather and the drag from Banana Republic more severe than anticipated.
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