GAP: Wedbush raises target price ahead of Q2 results
(CercleFinance.com) - While maintaining its "neutral" rating on the Gap share, Wedbush has raised its corresponding target price from 10 dollars to 14 dollars (current price: 14.
4 dollars), expecting the clothing chain to unveil better-than-expected Q2 results on Thursday evening.
Expecting strong net sales over the period, driven by the Gap brand, the broker said it expects a net loss over the period, representing -29 cents, better than its previous estimate of -65 cents - and the consensus of -41 cents.
However, Wedbush also expects comments on weaker performance since the start of August and is reducing its EPS estimate for Q3 from +38 cents to +19 cents, while the consensus is looking for +21 cents.
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