MKM Partners Remains Sidelined on Gap, Inc. (GPS) Following December Comps

MKM Partners maintained a Neutral rating and $28.00 price target on Gap, Inc. (NYSE: GPS) following the company's strong December comps.

Analyst Roxanne Meyer commented, "December comps of 4% beat our -2%/Street's -1.7% expectation, driven by a significant beat at Old Navy (+12% vs. MKM 1%/Street 2.3%) and Gap (1% vs. MKM -5%/ Street -3.9%) which was offset by a comp miss at Banana Republic (-7% vs. MKM -5%, Street -5.3%). Comps at both Old Navy and Gap inflected meaningfully vs. November on a 2 and 3 year basis, with Old Navy accelerating 16 pts and 6 pts, respectively, and Gap improving 6 pts and 5 pts, respectively. AUR and conversion rose overall, while traffic and UPTs fell."

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 $23.25 yesterday.

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