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Fly News Breaks for November 8, 2019
GPS
Nov 8, 2019 | 08:38 EDT
RBC Capital analyst Kate Fitzsimons lowered her price target on The Gap to $16 and kept her Sector Perform rating after its announced resignation of CEO Art Peck along with a disappointing update on Q3 comps and a cut in FY19 guidance. The analyst says the CEO departure is not surprising given the skepticism about the Old Navy spin, though the lack of the update around its progress and the pre-holiday timing of the announcement were concerning.
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