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Fly News Breaks for November 11, 2019
GPS
Nov 11, 2019 | 09:38 EDT
MKM Partners analyst Roxanne Meyer lowered her price target on The Gap to $15 and kept her Neutral rating after its negative pre-announcement and CEO departure last week. The analyst says the company should look for a "merchant visionary" rather than a "strong operator" in its search for a new CEO. Meyer adds that while calling off the Old Navy spinoff would be a positive step and limit the damage, she still expects the weakness in The Gap stock price to persist beyond the holiday season.
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