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Fly News Breaks for November 10, 2015
GPS
Nov 10, 2015 | 07:27 EDT
UBS noted Gap announced weaker than expected Q3 results and the firm was particularly disappointed with Old Navy decelerating for the second consecutive month. The firm remains concerned about the company's inability to re-accelerate and so lowered its estimates, citing less visibility on its strategic turnaround. UBS reiterated its Sell rating and lowered its price target to $24 from $25 on Gap shares.
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