UPDATE: Jefferies Downgrades Gap On Concerns Of Ability To Drive SSS Growth And Margin Expansion

In a report published Thursday, Jefferies analyst Randal Konik downgraded The Gap (NYSE: GPS ) from a Buy rating to a Hold rating and lowered the price target from $51.00 to $40.00. In the report, Jefferies says "GPS has been one of our favorite names since mid-2011, as structural changes