Company Overview - The Gap, Inc. (NYSE:GAP) is a prominent American apparel retailer that has experienced significant volatility in its stock price, with shares up by 15% year-to-date [2]. Stock Performance - The stock faced a notable dip of 20% on May 30th due to potential excess costs of up to $300 million related to tariffs [2]. - Following this dip, shares have rebounded, increasing by more than 21% [3]. Analyst Ratings - Morgan Stanley raised its price target for The Gap, Inc. from $27 to $28 while maintaining an Overweight rating on September 16th [3]. - Jefferies upgraded its rating from Hold to Buy and increased the price target from $22 to $30 on November 14th, citing improved web and foot traffic for key brands like Old Navy [3]. - Telsey and Baird also upgraded the shares to Outperform, setting price targets at $32 and $33 respectively [4]. Market Context - The stock's performance is influenced by ongoing legal deliberations regarding tariffs, with expectations for a Supreme Court decision in January [4]. - Jim Cramer noted that the current market sentiment is shifting towards recommending stocks like The Gap, anticipating favorable outcomes from the Supreme Court [4].
President Trump’s Supreme Court Tariff Case Is Seeing People Recommend Gap (GAP), Says Jim Cramer