Gap Inc (GPS) PT Reduced to $21 at Piper Jaffray

Piper Jaffray analyst, Neely Tamminga cut her PT on Gap, Inc. (NYSE: GPS) to $21 from $25 after sales comps came in at -7% for April and -5% for the quarter. Management expects FQ1 EPS in the range of $0.31 to $0.32 (vs. consensus of $0.44). No change to Underwight rating.

The new PT is based on the same 5x FY17E EV/EBITDA multiple.

For an analyst ratings summary and ratings history on Gap, Inc. click here. For more ratings news on Gap, Inc. click here.

Shares of Gap, Inc. closed at $21.81 yesterday.

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