Shares of Gap Inc (NYSE:GAP) were climbing on Monday, a week after the company reported upbeat quarterly earnings.

The company reported the fourth straight quarter of revenue growth and seventh consecutive quarters of market share expansion, according to JPMorgan.

Analyst Matthew Boss upgraded the rating for from Neutral to Overweight, while raising the price target from $28 to $30.

The Gap Thesis: CEO Richard Dickson noted that the company was moving from a stage of "fixing fundamentals" across the portfolio to achieving "continuous improvement," Boss said in the upgrade note.

Check out other analyst stock ratings.

Dickson's formula for driving multi-year growth is increased efficiency, with inventory management, marketing, operational savings, and "flywheel reinvestment (ala best-in-class brands)," he added.

Management said Gap had made a "strong start" to the Holiday season, with the first half of November comps improving, the analyst stated. The company is following a strategy of "winning early through merchandising and marketing campaigns across the brands," he added.

CFO Katrina O'Connell said the company is targeting historical levels of profitability of 8%-10%, "led by SG&A leverage and modest gross margin expansion," Boss further wrote.

GA Price Action: Shares of Gap were up 6% to $25.69 at the time of publication on Monday.

Read More:

• Gap's Growth Drivers: Market Share Gains, Brand Momentum, And Raised Guidance – Analysts Weigh In

Photo: JHVEPhoto/Shutterstock.com