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Fly News Breaks for June 11, 2019
GPS
Jun 11, 2019 | 07:06 EDT
MKM Partners analyst Roxanne Meyer set her "fair value" estimate for Gap at $18, down from her prior price target of $33, and kept her Neutral rating after its Q1 earnings miss, also lowering her FY19 and FY20 EPS outlook by 38c and 41c to $2.12 and $2.20 respectively. The analyst says the quarter's negative comps at Gap and Old Navy brands "deepen the skepticism" about the company's Old Navy breakup decision, adding that the gross margin and inventory trends also bode poorly for Gap's Q2 performance. Meyer expects the management to offer some more clarity about the rationale for the break-up in the fall, but expects investors' worries about "dis-synergies" of the split to remain an overhang on Gap shares.
News For GPS From the Last 2 Days
GPS
Mar 26, 2024 | 06:16 EDT
Wells Fargo analyst Ike Boruchow raised the firm's price target on Gap to $32 from $25 and keeps an Overweight rating on the shares. The firm remains bullish on Gap after hosting CEO Richard Dickson and CFO Katrina O'Connell for investor meetings. Wells believes the turnaround is working, Old Navy and Gap confidence are growing, and the margin story should continue to play out.