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Fly News Breaks for January 11, 2019
GPS
Jan 11, 2019 | 05:55 EDT
Barclays analyst Chethan Mallela double downgraded Gap to Underweight from Overweight and cut his price target for the shares to $25 from $33. The analyst believes "challenging" traffic trends and "difficult" comparisons cloud visibility into the company's sales growth momentum. Further, the analyst believes the company's cost pressures will be larger than investors anticipate and pose risk to consensus estimates.
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