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Wall Street analysts rerated Gap, Inc GAP after the company reported upbeat third-quarter print Thursday. The company reported sales of $3.829 billion, beating analyst consensus of $3.812 billion. Earnings per share of 72 cents topped analyst estimates of 57 cents. Also Read: Amazon Strengthens Anthropic Partnership with $8 Billion AI Investment It now expects fiscal 2024 revenue of $15.124 billion – $15.198 billion, above the consensus of $14.956 billion. BMO Capital analyst Simeon Siegel maintained Gap with a Market Perform and raised the price target from $23 to $25 . Telsey Advisory Group analyst Dana Telsey reiterated Gap with a Market Perform and a $26 price target. BofA Securities analyst Lorraine Hutchinson maintained Gap with a Neutral and raised the price target from $25 to $28. Guggenheim analyst Robert Drbul reiterated a Buy rating on Gap with a price target of $35. BMO Capital: Gap reported third-quarter EPS that significantly exceeded expectations, with sales slightly surpassing estimates. Key drivers included robust gross margin improvement, supported by more substantial merchandise margins and ROD leverage. Banana Republic, Gap, and Athleta exceeded expectations, while Old Navy met projections despite weather-related challenges. Management highlighted market share gains across all brands and raised its guidance for full-year sales, gross margin, and EBIT growth. Old Navy sales were flat year-over-year, marking a moderation from prior quarters but maintaining momentum. Unseasonably warm weather impacted the performance of children’s apparel, but sales rebounded as weather patterns normalized. Gap Brand delivered its fourth consecutive quarter of positive comparable sales, growing 3% year-over-year, driven by strong product and marketing execution. Banana Republic experienced 2% year-over-year growth, with continued emphasis on improving fundamentals and success in the men’s category. Athleta achieved its most robust growth in two years, with sales increasing 4% year-over-year. New product launches and marketing resonated with customers, driving share gains. Gap’s gross margin reached 42.7%, exceeding the Street’s 42.1% estimate, with a 140-basis-point year-over-year expansion. 90-basis-point merchandise margin growth and operating leverage were key contributors. However, fourth-quarter gross margins are expected to remain flat when adjusted for ROD deleverage from calendar shifts. Telsey Advisory Group: Telsey provided a detailed assessment of Gap following its third-quarter earnings report. The company exceeded expectations across multiple metrics, reflecting strong operational discipline under its new leadership. Gap has demonstrated clear progress under its strategic focus on operational discipline, inventory efficiency, and brand portfolio growth. However, the analyst cautions that sustained consistency in performance and long-term profitability will be critical for investor confidence. The positive momentum in sales and profitability efforts suggests Gap is stabilizing its business and positioning itself for future growth. The price target is based on an 11.5x multiple of the two-year forward EPS estimate of $2.26. While this valuation is slightly below Gap’s historical average of 13.1x, it reflects the company’s ongoing challenges in a competitive retail environment. BofA Securities: Hutchinson highlighted its sales and margin performance while cautioning about future margin expansion. Gap delivered adjusted EPS of $0.72, outperforming Hutchinson’s estimate of $0.54 and the consensus projection of $0.57. The beat was supported by 1.6% sales growth, gross margin improvement, and effective SG&A management. Comps were positive at Athleta (+5%) and Gap (+3%). Management raised its fiscal 2024 guidance, reflecting the third-quarter outperformance. Hutchinson raised fiscal 2024 and fiscal 2025 EPS estimates by 9% and 5%, respectively, projecting $1.97 and $1.99. The analyst increased the price target to $28, based on a 6x 2025 estimated EV/EBITDA. Management raised its fiscal 2024 guidance for sales, gross margin, and operating income. Hutchinson expects gross margin to improve by 350 basis points compared to 2019, driven by reduced promotions and more vital full-price selling. However, Hutchinson highlighted that while Gap has achieved significant cost savings, management may prioritize reinvesting efficiencies into growth initiatives and inflation offsets rather than improving the bottom line. Hutchinson’s price target of $28 reflects a 6x 2025 estimated EV/EBITDA, consistent with peer averages. This valuation balances risks tied to Gap’s exposure to low-income consumers and freight costs against its turnaround potential and Athleta’s relatively more robust performance. While Hutchinson acknowledges the company’s improved sales trajectory, remains cautious on further margin growth. Guggenheim: Drbul highlighted the company’s earnings beat, strategic progress, and upwardly revised guidance. The quarter marked the company’s fourth consecutive quarter of top-line growth and seventh quarter of market share gains. Drbul values Gap at 15.2x 2025 EPS, a premium to its five-year average multiple of 12.5x, reflecting confidence in ongoing operational improvements and growth potential. He highlighted the strength of the Old Navy and Athleta brands as critical drivers, particularly noting Athleta’s position in an attractive apparel segment. With a ~3% dividend yield, Drbul views Gap shares as offering a compelling risk-reward profile supported by significant asset value and strategic optionality. Drbul’s price target underscores optimism about Gap’s ability to sustain its momentum, deliver margin expansion, and execute its reinvigoration initiatives successfully. Price Action: GAP stock is up 11.2% at $24.51 at last check Friday. Also Read: Snap Denies Child Exploitation Allegations, Wants Lawsuit Dismissed © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Eagles QB Tanner McKee gets 1st career TD football back with a little help from fans in the stands PHILADELPHIA (AP) — Tanner McKee’s first career NFL touchdown pass was thrown to a Philadelphia Eagles fan named Patrick. OK, McKee actually threw the 20-yard TD to Pro Bowl wide receiver A. Dan Gelston, The Associated Press Dec 29, 2024 2:31 PM Dec 29, 2024 2:35 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Philadelphia Eagles wide receiver A.J. Brown takes the field prior to an NFL football game against the Dallas Cowboys, Sunday, Dec. 29, 2024, in Philadelphia.. (AP Photo/Matt Slocum) PHILADELPHIA (AP) — Tanner McKee’s first career NFL touchdown pass was thrown to a Philadelphia Eagles fan named Patrick. OK, McKee actually threw the 20-yard TD to Pro Bowl wide receiver A.J Brown, who — in a momentary lapse of reason — chucked the souvenir football into the Lincoln Financial field stands. Uh-oh. “I felt so bad,” Brown said, “because I threw it so far.” McKee, a sixth-round pick out of Stanford in 2023, is a career third-string QB who had never played a regular-season snap until he was pressed into emergency duty Sunday against Dallas. Jalen Hurts did not start because of a concussion and Kenny Pickett — who ran and threw for a TD in the Eagles' 41-7 win — was knocked of the game with injured ribs. That opened the door for the 24-year-old McKee to play in a game in which the Eagles clinched the NFC East. He did his part — including the 20-yard strike in the third that made it 34-7. The celebration was temporarily muted when he realized his ball — a milestone keepsake for any player — was somewhere in the stands. Little did McKee know the ball was coming back to him. Eagles fans kicked off a bit of a relay with the ball once they realized its significance to McKee. The fan who caught the ball was promised a jersey from Brown. He sent the ball to one fan, who passed it to Eagles security chief “Big” Dom DiSandro to hand to another Eagles employee to Brown and finally to McKee. Souvenir secured. “I appreciate whoever gave the ball back,” McKee said. “(Brown) was like, ‘I’m sorry, bro. I got the ball back.’ So, yeah, it was good. He made a great play, and obviously a great catch.” It was Brown's throw that needed work. Brown stripped off and signed his game jersey and handed it to a fan named Patrick as a thank-you for returning the football — all while fans chanted “E-A-G-L-E-S!” around him. “We've got great fans here,” Brown said. McKee needed more room on the trophy shelf — he threw a second TD pass in the fourth quarter. ___ AP NFL: https://apnews.com/NFL Dan Gelston, The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Football (NFL) Like a football off McBride's helmet, the Cardinals aren't getting many lucky bounces these days Dec 29, 2024 2:22 PM Jim Harbaugh and Chargers focused on accomplishing more after wrapping up playoff berth Dec 29, 2024 2:02 PM Giants topple Colts 45-33 to eliminate Indy from the playoff race Dec 29, 2024 1:52 PMmcw casino live login 。

AG Mortgage Investment Trust, Inc. (MITT) To Go Ex-Dividend on December 31stThe repercussions of Arsenal's missed opportunities in the transfer market are already being felt, with fans and pundits questioning the club's ambition and strategic planning. With the 2021/22 Premier League season fast approaching, there are concerns that Arsenal's squad may not be adequately equipped to compete at the highest level, especially considering the intense competition and quality of opponents in the league.

Title: Barcelona Struggles to Reach Contract Extension with Marc-Andre ter Stegen, Player Shows No Intention to Leave

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