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Gap falls after Keybanc downgrade

Published 02/20/2018, 11:04 AM
Updated 02/20/2018, 11:04 AM
© Reuters.  Gap falls after Keybanc downgrade
  • Gap (NYSE:GPS) is down 3.81% in morning trading after Keybanc drops its rating to Sector Weight from Overweight on a valuation call. Shares of Gap are up 30% over the last 52 weeks.
  • "A change to Gap banner underscores structural weakness at the brand," warns analyst Edward Yruma.
  • "While we remain confident in Old Navy's ability to post solid results against difficult comparisons, we have less confidence in an operational turn at Gap banner in the short to medium term," he adds.
  • Now read: Gap: Maintain Target


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