Credit Suisse analyst C. Buss reiterated an Outperform rating and boosted his price target on Hanesbrands (NYSE: HBI) price target of $40.00 (from $38.00) following strong results after the close.

Buss commented, "Hanesbrands demonstrated exceptional results in light of a retail environment that has become increasingly choppy, with consumer traffic weak into stores and retailers looking to manage inventory and vendors more carefully. This quarter demonstrated the power of Hanesbrands's combination of: 1) share capture in existing distribution; 2) an activewear business skewed to growth apparel categories; 3) acquisition competency; and 4) strong cash generating abilities.

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Shares of Hanesbrands closed at $27.60 yesterday.