- Morgan Stanley analyst Alex Straton reiterated an Underweight rating on the shares of Gap Inc (NYSE:GPS) and raised the price target slightly to $8 from $7.50.
- The analyst highlighted that Gap’s Q2 EPS came in slightly better-than-expected against lowered guidance, but fundamentals remain underwhelming.
- Straton added that the company withdrew FY22 guidance, suggesting visibility at an all-time low and leaving the market to its own devices on potential outcomes.
- She sees an opportunity for air freight and broader supply chain tailwinds in 2H22.
- Falling store traffic, eCommerce disintermediation, declining brand health, apparel price deflation, and falling margins are Straton’s concerns for Gap’s growth going forward.
- Price Action: GPS shares are trading lower by 1.55% at $9.85 on the last check Friday.
NeuroPace Announces First Patient Implanted In NAUTILUS Pivotal Study For Treatment Of Idiopathic Generalized Epilepsy
Groundbreaking NAUTILUS study will evaluate the safety and effectiveness of the RNS System to treat generalized epilepsy in patients aged 12 and older
NeuroPace, Inc. (NASDAQ:NPCE), a commercial stage medical device
