(CercleFinance.com) – The GAP title gained ground on Monday on the New York Stock Exchange thanks to an increase in the recommendation of Goldman Sachs analysts, who went to ‘buy’ on the stock against ‘neutral’ previously.
Around 11:00 a.m., the action of the American ready-to-wear brand advanced 1.1%, while the S&P 500 index rose only 0.3% at the same time.
In a research note, Goldman Sachs points out that the sequential improvement in the performance of the clothing chain could be a key factor in the revaluation of the stock, which it believes could benefit from an effect favorable base and future appointments to its management team.
‘While we recognize that the company’s market valuation is high, we believe that the acceleration of its earnings growth (especially in the first half of the year), could lead to an outperformance of the stock, especially in the event of a landing. smoothness of the economy’, underlines the analyst.
Its target price of 18 euros at 12 months shows an upside potential of 18%.
Copyright (c) 2022 CercleFinance.com. All rights reserved.