TD Newcrest Downgrades Gildan Activewear (GIL) to Buy; Removing from Action List on Price Appreciation

TD Newcrest downgraded Gildan Activewear (NYSE: GIL) from Action Buy List to Buy. PT C$43.

TD analyst says, "We are downgrading Gildan to BUY from Action List Buy, based on share price appreciation. The stock has had a nice run heading into reporting season, mostly on the back of the recent acquisition announcement (up 15% since our Action List Buy upgrade). There is no fundamental change associated with our downgrade and we have made no changes to our EPS estimates or target."

"Gildan will report Q2/F11 results on May 11 (period ended April 3). We are
looking for EPS of $0.49 versus $0.41, in line with consensus (range of $0.46-
$0.51)."

For more ratings news on Gildan Activewear click here and for the rating history of Gildan Activewear click here.

Shares of Gildan Activewear closed at $36.49 yesterday.

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