Why Gap Stock Is Up Sharply Today
Shares of retailer Gap (NYSE: GPS) were up on Monday afternoon, after a Wall Street analyst gave the stock a double upgrade, moving his rating to the equivalent of buy from sell.
As of 2:45 p.m. EDT, Gap's shares were up about 9.1% from Friday's closing price.
In a new note on Monday morning, Wells Fargo analyst Ike Boruchow raised his firm's rating on Gap's shares to overweight, two steps up from its prior underweight rating, with a price target of $19, up from just $8.
Source Fool.com