Gildan Activewear Price Target Raised to US$71 at CIBC

MT Newswires Live12-02

CIBC Capital Markets raised its price target on Gildan Activewear Inc. (GIL.TO, GIL) to US$71 from US$60.

Analyst Mark Petrie maintained an Outperformer rating on shares of the Canadian branded clothing manufacturer following the completion of its acquisition of HanesBrands.

"Gildan acquisition of Hanesbrands combines leading retail brands and best-in-class low-cost manufacturing, as well as complimentary channels and categories," Petrie said in a note to clients.

"We are confident in management's ability to meet and likely exceed its $200 Million synergy target and believe Gildan can solidify positive organic growth trends," the analyst said.

"Our model is updated and reflects 25.7% EPS growth in F2026, with leverage falling to support share repurchases re-starting in mid-2027 at the latest."

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