One Cheer for the Gap

The clothing retailer's shares rose Wednesday after an upgrade from Wachovia

Gap Inc. (GPS) is already winning praise from some in the market, only months after CEO Paul S. Pressler resigned in January. While acknowledging that the troubled clothing retailer still has some serious cleanup work ahead, Wachovia analyst John Morris upgraded the firm's market perform rating on Gap's stock to outperform on Apr. 11. But the jury is still out on whether the clothing retailer will manage to improve its languishing sales.

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