Stocks quoted in this article:
Gap Inc. (GPS – 24-1/16) owns popular apparel stores The Gap, Banana Republic, Old Navy, and Gap Kids. The equity has been beleaguered of late, dropping off 54 percent from its early-April peak above the 53 mark. However, the stock received positive mention in this week's edition of BusinessWeek
A fund manager reported that he sees little continued downside for GPS shares, and cites that the company has bounced back successfully from similar pullbacks in the past. The analyst quoted said he sees GPS earnings for 2000 weighing in at $1.15 per share, but climbing to $1.45 per share in 2001 and $1.75 in 2002. Despite these words of encouragement, GPS shares have dipped nearly five percent in Friday's trading.