BMO Capital Raises Price Target on Gildan Activewear (GIL) Following Investor Meetings
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BMO Capital reiterated an Outperform rating on Gildan Activewear (NYSE: GIL), and raised the price target to $31.00 (from $30.00), following a series of investor meetings. BMO believes that Gildan’s growth opportunities remain attractive and sees a long runway for ongoing market share gains in Branded Apparel.
Analyst Stephen MacLeod commented, "We recently hosted a series of investor meetings (November 28 – December 2, 2016) with Gildan Activewear’s CFO Rhodri Harries and Director, Investor Communications Sophie Argiriou in Europe (London, Paris, Frankfurt, Stockholm). We came away from our week of meetings with stronger conviction in our view that Gildan is well-positioned to continue to achieve retail shelf-space gains by leveraging the competitive strengths that made it successful in the Printwear segment – namely, its low-cost advantage, focus on product quality, and highly-efficient vertically-integrated manufacturing footprint and supply chain."
For an analyst ratings summary and ratings history on Gildan Activewear click here. For more ratings news on Gildan Activewear click here.
Shares of Gildan Activewear closed at $26.98 yesterday.
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