Gap At Major Resistance Ahead of Earnings

Yahoo Finance

Gap Inc. (GPS) is trading higher by more than 1% in Tuesday’s pre-market in reaction to bullish analyst commentary just two days before the Q1 2021 earnings release, when the apparel chain is expected to post a loss of $0.12 per-share on $3.4 billion in revenue.

Telsey Advisory Group analyst Dana Telsey raised her price target on Tuesday morning, noting that long-term initiatives announced in October should “contribute to improved profitability” but admits that “fourth quarter results are a continued reminder that significant challenges remain at the Gap and BR brands. Therefore, we maintain our ‘Market Perform’ rating, but given our increased estimates, we are raising our price target to $37”.

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