The Gap’s Target, Estimates Boosted at Piper Jaffray; Fall Season Looking Good (GPS)

By Staff,

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Apparel retailer The Gap Inc. ( GPS ) 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. ( GPS ) 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. ( GPS ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: GPS

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