Opinions
Larry Berman CFA, CMT, CTA
Great Atlantic & Pacific Tea Inc.
GAP-N
DON'T BUY
May 11, 2005
Getting extremely overbought. Looking at the highs for 2001 and 2002, it got above the $25 for a couple of months, but it fell back pretty hard. There's going to be a natural resistance for the stock to go higher.
$22.480
Stock price when the opinion was issued
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Stockchase Research Editor: Michael O'Reilly
As consumer spending steadies, analysts expect GAP to benefit thru its many well recognized brands. Meanwhile it has been quietly accumulating cash, while buying back shares. It trades at 9x earnings, 2.3x book and supports a robust 29% ROE. Its dividend is backed by a payout ratio under 1/3 of cash flow. We recommend setting a stop-loss at $14, looking to achieve $27 -- upside potential of 28%. Yield 3.0%
(Analysts’ price target is $27.07)
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