Citi downgraded Gildan Activewear (GIL) to Neutral from Buy with a price target of $63, up from $60. The firm cites valuation for the downgrade with the shares up 30% year-to-date. The shares are now pricing in a successful close to Hanesbrands (HBI) deal, the analyst tells investors in a research note. Citi sees a more balanced risk/reward for Gildan at current share levels.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GIL: