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Fly News Breaks for June 25, 2018
GPS
Jun 25, 2018 | 08:11 EDT
Jefferies analyst Randal Konik raised his price target on Gap to $50 from $45 and maintained a Buy rating on shares, telling investors in a research note that he believes the market is underappreciating pieces of the company's portfolio. The CEO, at last week's Nantucket conference, suggested there were no "sacred cows," Konik notes, leading him to believe a monetization event could happen over the mid-term; he sees an Athleta spin as "most likely." Konik values Old Navy at $14.6B, which is more than the EV for the company as a whole.
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