Gap price target raised to $31 from $28 at Barclays

Barclays raised the firm’s price target on Gap to $31 from $28 and keeps an Overweight rating on the shares. The company’s’ Q1 report is evidence of a “textbook retail recovery” as sales improved, margins expanded, and all banners are gaining share, the analyst tells investors in a research note. The firm says management has laid the foundation for longer-term margin expansion.