Gap Shares Rise As JPMorgan Sees Inflection Point Under CEO's Merchandising Playbook
1. Gap reported Q2 revenue of $3.73 billion, EPS of 57 cents. 2. Analyst expects third-quarter revenues between $3.86 billion and $3.90 billion. 3. Same-store sales rose about 1%, with Gap up 4% year-over-year. 4. Analyst raised price target from $29 to $32, maintains Overweight rating. 5. Capital allocation may yield ~$650 million in annual net free cash flow.