Shares of Gap (GPS) - Get Gap, Inc. (GPS) Report were rising by 3.14% to $24.98 on Thursday morning, following a rating upgrade to "neutral" from "underweight" at JPMorgan. The firm hiked its price target on the apparel and accessories retailer to $24 from $21.
JPMorgan cited the company's "quality casual" strategy, which is designed to improve in-stock rates and the quality of important items in denim, tees, kids and baby at the Gap chain, Fox Business noted. Analysts also made mention of the company's more strategic promotions at its Gap and Banana Republic divisions.
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