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Why The Gap Blasted 10% Higher on Tuesday

TheMotleyFool

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Why The Gap Blasted 10% Higher on TuesdayPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/bda07ced-e79e-4489-b731-ada601660c8e.png

Shares of The Gap (NYSE: GPS) popped on Tuesday, thanks to a major upgrade from Citigroup. Analyst Paul Lejuez at the influential bank doubled his price target on the retailer's stock, to $24 per share. Even after Tuesday's price jump, the shares were only trading at just above $17 apiece.

The analyst also upped his recommendation on the stock, to buy from the previous neutral.

Image source: Getty Images.

Source Fool.com

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