Gap up after UBS upgrades rating to 'buy'

GAP

08/01/2026 15:00

** Shares of apparel maker Gap GAP.N up 5.6% at $28.09

** UBS upgrades rating to "buy" from "neutral"; raises PT to $41 from $26

** Brokerage says the core business will remain solid, the beauty and handbag businesses will start to add revenue in FY2026 and ramp in FY2027, and its Athleta brand will improve

** Adds "GAP had a strong holiday season"

**  13 of 20 brokerages rate stock "buy" or higher, 7 "hold"; median PT is $29.33 - data compiled by LSEG

** GAP up 8.3% in 2025

(Reporting by Sanskriti Shekhar in Bengaluru)

((Sanskriti.Shekhar@thomsonreuters.com))