|
|
Article: Gap upgraded by Deutsche Bank.
- Article from:
- WWD
- Article date:
- February 22, 2006
- Author:
CopyrightCOPYRIGHT 2006 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Meredith Derby
NEW YORK - An upgrade by Deutsche Bank Securities Inc. on shares of Gap Inc. to "buy" failed to buoy shares of the stock on Tuesday even though the brokerage firm said improvements at the specialty retailer's namesake brand are noticeable after over a year of weak same-store sales and margins.
After a strong start to the day - when Gap shares hit a high of nearly $19.30 - the stock settled at $18.94 on the New York Stock Exchange, up just 0.6 percent from the prior close. Still, it was the stock's highest close since early September. Gap shares also had above-average trading volume on Tuesday, with 6.7 million shares trading ...