Standpoint Goes Positive on Gap (NYSE:GPS)

Gap had its rating boosted by Standpoint Research, as they said it was among the worst performers in the S&P during January, it was oversold.

Standpoint says, "GPS has dropped $2.80 (12.4%) since our downgrade and will probably start to head back up on same store sales and raised guidance news from pre-market this morning. Our target for next year is $24 (or 12X $2.00 in earnings potential). GPS was one of the worst performing names in the S&P during January and was oversold along with many others in its industry."

Standpoint upgraded Gap from "Hold" to "Buy." Gap was trading at $19.75, gaining $0.72, or 3.78 percent, as of 12:18 M EST. Standpoint has a price target of $24 on Gap.