2024-07-16 17:31:38 ET
Summary
- The Gap, Inc.'s Q1 results blew Wall Street estimates and my expectations out of the water, also raising the FY2024 outlook.
- The Gap's brands are performing strongly, and while I was previously cautious of the brands' turnaround success, a better sales performance seems likely now.
- The stock has gone from moderately overvalued to slightly undervalued in my eyes, as Gap's stock price is stagnant since my previous article despite the strong Q1.
The Gap, Inc. ( GPS ) reported Q1 results, blowing Wall Street analysts’ and my estimates out of the water. This made the shares rally by 29% following the results, as all of Gap’s brands showed signs of clearly improving demand....
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The Gap's Brands Perform Stronger Than I Thought (Rating Upgrade)