FBR Capital Reiterates an 'Outperform' on Hanesbrands (HBI); Visibility to FY11 Decent (Demand Elasticity in Focus)

FBR Capital reiterates an 'Outperform' on Hanesbrands (NYSE: HBI), PT $36.

FBR analyst says, "Ahead of Hanesbrands' 2Q earnings report next week (Wednesday, July 20) we are reiterating our rating and price target, while slightly tweaking our estimates. We continue to believe Hanes is relatively better positioned than most in apparel to deal with product cost inflation headwinds that will build in 2H11, with good visibility to achievable FY11 guidance (price increases through back to school and product costs through FY11 are known)...We have taken up our 2Q EPS to $0.87, resulting in FY11 going to $2.78 (was $2.76)...Our FY12 EPS estimate is now $3.18."

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

Shares of Hanesbrands closed at $31.50 yesterday.

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