GAP stock climbs 6% after analysts lift its price target

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Gap (GPS.US) stock rose more than 6.0% after Wells Fargo lifted its target on the stock to a Street high of $40, which is approximately 30% above Friday close. Wells Fargo believes that the retailer “appears to be extremely well-positioned for market share gains this year, Athleta has a meaningful runway for continued growth and Gap brand is showing green shoots in their brand-health initiatives."

Gap (GPS.US) stock launched today's session sharply higher, extending last week's gains. If the current sentiment prevails then resistance at $35.87 may be at risk. On the other hand, in case of a break below the upper limit of the ascending channel, downward move may accelerate towards support at $24.57. Source: xStation5

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