Gap Analysts Boost Their Forecasts Following Upbeat Results
Portfolio Pulse from Avi Kapoor
Gap Inc. (NYSE: GPS) reported better-than-expected Q1 results, with sales and earnings surpassing analyst estimates. The company saw a 3% increase in comparable sales and raised its full-year guidance. Analysts have subsequently increased their price targets for the stock.
May 31, 2024 | 1:06 pm
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Gap Inc. reported better-than-expected Q1 results, with sales of $3.39 billion and earnings of 41 cents per share, both surpassing analyst estimates. The company also raised its full-year guidance, leading analysts to increase their price targets.
Gap Inc.'s strong Q1 performance and raised full-year guidance indicate positive momentum for the company. The increase in price targets by multiple analysts further supports a bullish outlook for the stock in the short term.
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