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  4. Gap Inc Upgraded at Barclays as Major Risk Factors 'Now Well Known'
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Gap Inc Upgraded at Barclays as Major Risk Factors 'Now Well Known'

By Sam Boughedda Shares of Gap Inc (NYSE:GPS) are up over 5% in early Tuesday trading after it was upgraded to Equal Weight from Underweight at Barclays. A Barclays analyst also...
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Gap Inc Upgraded at Barclays as Major Risk Factors 'Now Well Known' © Reuters Gap, Inc. (GPS) Upgraded at Barclays as Major Risk Factors 'Now Well Known'

By Sam Boughedda

Shares of Gap Inc (NYSE:GPS) are up over 5% in early Tuesday trading after it was upgraded to Equal Weight from Underweight at Barclays.

A Barclays analyst also raised the firm's price target on the stock to $9 from $6. She said in a research note that they believe the major risk factors to the story are "now well known," and there is "neutral-to-positive headline risk at least through year-end as Gap takes measures to turn the business."

"We believe that the sales-to-inventory growth spread at the end of 2Q22 (inventory growth 44% faster than sales, which was only slightly worse than 1Q22's 41%) will be at its maximum negative spread as GPS consciously works down inventory. The company is taking measures to aggressively reduce the inventory by liquidating it through markdowns, packing it away for use next year, and dramatically reducing future receipts," wrote the analyst.

However, she added that the Gap division has been an "unsuccessful decades-long turn in progress," and they believe it will continue to struggle as the Gap brand fails to resonate with Millennial and Gen Z demographics, who will be the driving force of consumer behavior and dollar spend over the next couple of decades.

"While we do not see any immediate fix to the several issues plaguing GPS and acknowledge that fundamentals could get worse given weakening demand and cotton input costs on the rise, we do see the company taking significant measures to stabilize and improve the business," she explained.

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01-05-2024 10:45:17 (UTC+7)

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1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

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1.2475

-0.0015 (-0.12%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

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Gold Futures

2,295.80

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85.62

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5,035.69

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8,144.13

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
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EUR26.475,3627.949,19
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JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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