Janney Montgomery Scott Reiterates a 'Buy' on Hanesbrands (HBI); Add To Positions
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Price: $6.47 --0%
Rating Summary:
9 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott reiterates a 'Buy' on Hanesbrands (NYSE: HBI) price target of $37.00 (from $36.00).
Analyst, Eric Tracy, said, "We reiterate our rating on HBI following the company's strong 2Q beat, and would advise clients accumulate positions as risk/reward remains one of the more compelling in the space. While the material 2Q beat ($0.67 vs. our/consensus $0.50/$0.49) and only reaffirmed FY12 outlook ($2.50-$2.60) would suggest, on the surface, that 2H outlook is lower, this is driven primarily from a shift of costs from 2Q (~$0.07) and higher tax (~$0.10). With the more promotional Imagewear business now in discontinued ops, we actually think the visibility and quality of the earnings have improved."
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 $30.02 yesterday.
Analyst, Eric Tracy, said, "We reiterate our rating on HBI following the company's strong 2Q beat, and would advise clients accumulate positions as risk/reward remains one of the more compelling in the space. While the material 2Q beat ($0.67 vs. our/consensus $0.50/$0.49) and only reaffirmed FY12 outlook ($2.50-$2.60) would suggest, on the surface, that 2H outlook is lower, this is driven primarily from a shift of costs from 2Q (~$0.07) and higher tax (~$0.10). With the more promotional Imagewear business now in discontinued ops, we actually think the visibility and quality of the earnings have improved."
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 $30.02 yesterday.
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