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Fly News Breaks for June 3, 2016
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Jun 3, 2016 | 08:14 EDT
Baird analyst Mark Altschwager views Gap as inexpensive but said he remains in a "wait and see" mode as the company works toward product/sales improvements across its portfolio. The analyst said traffic remains a headwind but noted Memorial Day traffic drove May comps ahead of expectations. Altschwager remains cautious and so remains on the sidelines while maintaining his Neutral rating and $20 price target on Gap shares.
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