Apparel retailer The Gap Inc. (
) on Friday received some further bullish commentary from analysts
at Piper Jaffray.
The firm reiterated its "Overweight" rating on GPS and lifted
its price target to $42. That new target suggests a 13% upside to
the stock's Thursday closing price of $37.10.
Piper Jaffray also raised its earnings estimates for the
company, noting its stores seem to be carrying some solid sales
momentum into the pivotal Fall season.
The Gap operates both brick-and-mortar and online stores for its
namesake Gap, Old Navy, Banana Republic, Piperlime, and Athleta
brands. It boasts more than 3,200 retail locations across the U.S.,
as well as presences in several foreign countries.
GPS shares were unchanged in premarket trading Friday.
The Bottom Line
Shares of The Gap Inc. (
) have a 1.35% dividend yield, based on last night's closing stock
price of $37.10. The stock has technical support in the $33-$35
price area. If the shares can firm up, we see overhead resistance
around the $40-$42 price levels.
The Gap Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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