Telsey Advisory analyst Telsey Advisory Group maintained a Hold rating on Gap (GPS – Research Report) yesterday and set a price target of $24.00. The company’s shares closed last Wednesday at $17.84, close to its 52-week low of $17.71.
Gap has an analyst consensus of Hold, with a price target consensus of $24.15, implying a 30.7% upside from current levels. In a report released yesterday, J.P. Morgan also downgraded the stock to Hold with a $22.00 price target.
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Based on Gap’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $4.21 billion and net profit of $258 million. In comparison, last year the company earned revenue of $3.28 billion and had a GAAP net loss of $62 million.
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Gap, Inc. operates as a global apparel retail company. It offers apparel, accessories, and personal care products for men, women and children. The company operates through segments: Gap Global, Old Navy Global, Banana Republic Global, Athleta, and Intermix. The Gap Global segment includes apparel and accessories for men and women under the Gap brand, along with the GapKids, BabyGap, GapMaternity, GapBody and GapFit collections. The Old Navy Global segment offers clothing and accessories for adults and children. The Banana Republic Global segment provides clothing, eyewear, jewelry, shoes, handbags and fragrances. The Athleta segment offers fitness apparel for women. The Intermix segment features styles from various designers. Gap was founded by Donald G. Fisher and Doris F. Fisher in July 1969 and is headquartered in San Francisco, CA.
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