Argus analyst Deborah Cievo kept her Hold rating on Gap, but lowered her FY20 and FY21 EPS views by 37c and 47c to $1.75 and $1.74 respectively after its Q3 results. The analyst cites the company's negative comps and Old Navy China exit, adding that while she is encouraged by its efforts to restructure its business and adapt to a changing retail environment, Gao continues to have "product assortment issues" that have forced it to rely on discounting. Cievo believes that the company's same-store sales declines and continued weak traffic trends warrant a neutral stance.