Analysts Slash Gap Price Target - Read Why - Gap (NYSE:GPS)

Analysts reduced the price target on Gap Inc GPS. The move comes after the company lowered its Q1 guidance and Old Navy President and CEO Nancy Green's exit in the coming week.
Morgan Stanley analyst Kimberly Greenberger lowered the price target to $13 from $14 (12% upside) and kept an Equal Weight rating on the shares.
Deutsche Bank analyst Gabriella Carbone lowered the price target on Gap to $17 from $26 (47% upside) and kept a Buy rating on the shares.
BMO Capital analyst Simeon Siegel reduced the price target to $13 from $16 and maintained the Market Perform rating on the shares.
Baird analyst Mark Altschwager lowered the price target on Gap to $14 from $18 and kept a Neutral rating on the shares.
The analyst noted Nancy Green's departure adds to an already difficult 2022 scenario with supply chain and operational issues.
Credit Suisse analyst Michael Binetti maintained Gap with a Neutral and decreased the price target to $13 from $16.
Telsey Advisory Group analyst Dana Telsey maintained Gap with a Market Perform and lowered the price target to $15 from $18 (30% upside).
Price Action: GPS shares are trading lower by 21.17% at $11.27 on the last check Friday.

Analysts Slash Gap Price Target - Read Why