Standpoint Gets Expected Gains from The Gap, Then Trims Rating
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Gap Inc. (GPS) is down about 1% this morning after Standpoint Research reportedly downgraded the retailer’s stock from „buy” to „hold,” citing GPS’ recent price gains. Standpoint said it had selected GPS after dipping below $18 in mid-August, and at $22 a share, the stock is now up more than 25% since that time. „Our target was $24 for 2011-2012,” Standpoint said. „We got 75% of the $6 gain we wer…