Goldman Sachs Starts Hanesbrands (HBI) at Conviction Buy

March 22, 2013 9:21 AM EDT
Get Alerts HBI Hot Sheet
Price: $22.06 --0%

Rating Summary:
    17 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs initiates coveraged on Hanesbrands (NYSE: HBI) with a Conviction Buy rating and a price target of $50.00.

"We like HBI for its durable portfolio of basic brands on the verge of transitioning from a debt-reduction story to one of shareholder friendly capital allocation. We expect the next chapter to be written through a dividend, share repurchases and acquisitions. We see 19% upside to our 12-month, $50 price target," said analyst Taposh Bari.

For an analyst ratings summary and ratings history on Hanesbrands click here. For more ratings news on Hanesbrands click here.

Shares of Hanesbrands closed at $42.03 yesterday.

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