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Actionable news in GPS: THE GAP Inc,

The Gap (GPS) Stock Plunges Following Analyst Downgrade

NEW YORK (TheStreet) -- The Gap (GPS - Get Report) shares are sliding 6.63% to $27.03 in early morning trading on Friday after analysts at MKM Partners lowered their rating to "hold" from "buy," and dropped their price target to $29 from $40.

Analysts are no longer confident in Old Navy, saying that it is "no longer the anchor of earnings growth."

Additionally, challenges at Banana Republic continue to last longer than the firm had expected.

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This action comes after the San Francisco-based apparel retailer reported a 1% decline in total sales for the month of September.

The company's sales were hurt by the stronger dollar and weak performance at Banana Republic, according to the Wall Street Journal.

Separately, TheStreet Ratings team rates GAP INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their...


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