Wall Street has been admiring the turnaround at Gap (GPS) for some time, repeatedly showering the clothing retailer with praise over its operations and prospects. On Wednesday, Citi kept the upbeat commentary going, lifting its rating and price target on the stock.
FactSet data show that Gap already had been the recipient of at least 30 price target increases this year. Several came last week, after the San Francisco-based apparel seller said first-quarter sales rose 7% from the same quarter a year ago to $3.73 billion.
While a handful of cuts have been issued along the way, by and large, optimism abounds. In the case of Citi, the firm gave Gap a buy rating, up from neutral previously, and boosted its target by $8 to $48 a share, making it one of the more elevated projections on the record. On average, analysts' target price on the stock is $43.10.
The highest is $56 at Jefferies. That's not only 30% ahead of the consensus price, it's also better by almost $3 than the all-time closingRead More »from Mine the Gap: Analysts’ Love for the Retailer Only Grows