Topeka Capital Markets Downgraded Gap Inc (GPS)

Gap Inc (NYSE:GPS) was downgraded by investment analysts at Topeka Capital Markets from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $22.00 price target on the apparel retailer’s stock, down from their previous price target of $40.00. Topeka Capital Markets’ price objective would suggest a potential upside of 0.87% from the stock’s previous close.

Gap (NYSE:GPS) opened at 21.81 on Tuesday. Gap has a 12-month low of $21.11 and a 12-month high of $39.59. The company’s 50 day moving average price is $25.50 and its 200-day moving average price is $25.94. The firm has a market capitalization of $8.66 billion and a price-to-earnings ratio of 9.78. 

Source: Newsway21

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