Gildan Activewear initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Gildan Activewear (GIL) with an Outperform rating and $61 price target The firm believes the company is executing well across all aspects of its business. Gildan’s product innovation is driving market share gains and its manufacturing expansion in Bangladesh will bring cost efficiencies, the analyst tells investors in a research note. RBC believes Gildan is positioned for “steady value creation.”