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Fly News Breaks for July 25, 2016
GPS
Jul 25, 2016 | 07:51 EDT
Wells Fargo says that Gap's set-up in the near-term is favorable,. as it expects the company to provide higher than expected Q2 EPS guidance. Additionally, Old Navy's comps are set to ease, while the company's recently announced cost savings initiative "drives a good deal of cushion to out-year earnings estimates," according to the firm. Wells raised its price target on the shares to $25-$27 from $20-$22, but it keeps a Sector Perform rating on the stock, citing several longer term "structural hurdles."
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