Gap rises after Jefferies upgrades to 'buy' on strong brand

GAP

14/11/2025 11:11

** Shares of apparel maker Gap GAP.N up ~2% at $24.71 premarket

** Brokerage Jefferies upgrades stock to "buy" from "hold", raises PT to $30 from $22 ahead of Q3 results on November 20

** Says GAP is experiencing strong momentum and encouraging data trends that should drive top- and bottom-line growth ahead of Street estimates

** Sees Gap reporting its 8th consecutive quarter of same-store sales growth

** Says Old Navy brand is well positioned and Athleta brand's turnaround effort is helping drive growth; sees momentum from “Better in Denim” campaign, which achieved record engagement

** GAP is well-positioned to increase prices and reduce promos, while still driving excitement with products that resonate with customers - brokerage

** Average rating of 20 analysts is "buy"; with a median PT of $25 - data compiled by LSEG

** Up to last close, stock has risen ~13% in the last 12 months

 (Reporting by Neil J Kanatt in Bengaluru)

 ((Neil.JKanatt@thomsonreuters.com;))