Gap Receives Buy Rating from Nomura (GPS)
Gap (NYSE:GPS)‘s stock had its “buy” rating reiterated by equities research analysts at Nomura in a research note issued to investors on Friday, Stock Ratings Network reports. They currently have a $44.00 price target on the stock, up from their previous price target of $40.00. Nomura’s price objective suggests a potential upside of 10.80% from the stock’s previous close.
The analysts wrote, “We have been noting GPS’s progressively cheaper valuation as of late and believe the better-than-expected comp and EPS raise is just another result that supports the longer-term thesis. We maintain our Neutral rating in the face of ongoing mall traffic pressure, but believe at 13x FY14 estimates, valuation remains attractive and we would look to get constructive on pullbacks as we see relative downside EPS protection aided by impressive expense discipline and ongoing share repurchases.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee raised their price target on shares of Gap from $44.00 to $48.00 in a research note to investors on Friday. Separately, analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Gap in a research note to investors on Friday. They now have a $48.00 price target on the stock, up previously from $46.00. Finally, analysts at UBS AG upgraded shares of Gap from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $50.00 price target on the stock, up previously from $41.00. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Gap currently has a consensus rating of “Hold” and an average price target of $42.79.
Shares of Gap (NYSE:GPS) traded up 6.07% on Friday, hitting $42.12. 5,589,782 shares of the company’s stock traded hands. Gap has a 1-year low of $31.19 and a 1-year high of $46.56. The stock has a 50-day moving average of $38.31 and a 200-day moving average of $40.31. The company has a market cap of $18.911 billion and a P/E ratio of 14.16.
Gap (NYSE:GPS) last announced its earnings results on Thursday, November 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that Gap will post $2.68 EPS for the current fiscal year.
The Gap, Inc (NYSE:GPS) is a global specialty apparel company.
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