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UBS analysts have upgraded their outlook on Gap shares from "sell" to "neutral," raising the target price from $16 to $26. This change reflects increased confidence in CEO Richard Dickson's leadership and the management's ability to enhance brand relevance and operational performance.
UBS has upgraded Abercrombie & Fitch, Burlington Stores, Boot Barn, and Gildan Activewear to Buy, citing strong growth potential and attractive valuations in the Softlines sector for 2025. The firm anticipates that U.S. tax cuts and deregulation will boost apparel spending, while concerns over tariffs are downplayed. Additionally, Gap and Nordstrom have been upgraded to Neutral, with Gap's CEO recognized for driving change.
UBS has upgraded Abercrombie & Fitch, Burlington Stores, Boot Barn, and Gildan Activewear to Buy, citing strong growth potential and attractive valuations. The firm anticipates that U.S. tax cuts and deregulation will significantly boost apparel spending, while concerns over tariffs are deemed minimal. Additionally, Gap and Nordstrom were upgraded to Neutral, with Gap's CEO recognized for his effective leadership.
Gap raised its fiscal 2024 sales guidance to a growth of 1.5% to 2%, following better-than-expected results despite challenges from storms and warm weather. The company reported a net income of $274 million, with sales reaching $3.83 billion, up 2% year-over-year. Old Navy's sales grew 1%, while Gap and Athleta saw positive comparable sales, indicating a strong start to the holiday shopping season.
Richard Dickson
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ubs upgrades gap shares on management's improved performance and brand relevance
15:43 20.01.2025
UBS upgrades retail stocks signaling optimism for softlines sector in 2025
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18:58 10.01.2025
ubs upgrades retail stocks signaling growth potential in softlines sector
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GAPACK
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Nordstrom, Inc.
Gildan Activewear Inc.
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Richard Dickson
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18:36 10.01.2025
gap raises sales guidance after strong holiday season despite weather challenges
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22:15 21.11.2024
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