Gildan Activewear Receives a Buy from Credit Suisse

By Carrie Williams

In a latest note to investors, a research analyst has provided a rating update for the Consumer Goods sector company, Gildan Activewear (TSX: GIL). Analyst Christian Buss from Credit Suisse remains bullish on the stock and has a C$39 price target.

According to TipRanks.com, Buss is a 3-star analyst with an average return of 4.9% and a 60.8% success rate. Buss covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Abercrombie Fitch, and Ralph Lauren Corp.

Gildan Activewear has an analyst consensus of Strong Buy, with a price target consensus of C$41.

Based on Gildan Activewear’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$882 million and quarterly net profit of C$111 million. In comparison, last year the company earned revenue of C$886 million and had a net profit of C$122 million.

Gildan Activewear, Inc. markets and manufactures basic family apparel, including T-shirts, fleece, sport shirts, socks, underwear, hosiery and shapewear. It operates its business through two segments: Printwear and Branded.

The company’s shares closed on Thursday at C$37.88.