Gap price target raised to $25 from $23 at BMO Capital

BMO Capital analyst Simeon Siegel raised the firm’s price target on Gap (GAP) to $25 from $23 but keeps a Market Perform rating on the shares. The company’s Q3 earnings beat was “strong” with sales slightly ahead of estimates and gross margins coming in “stronger”, the analyst tells investors in a research note. BMO adds however that while it is encouraged by Gap’s market share gains and merchandise margin expansion, it believes that shares at current levels “reflect the green shoots”.