Gildan Activewear price target lowered to $72 from $74 at Scotiabank

Scotiabank lowered the firm’s price target on Gildan Activewear (GIL) to $72 from $74 and keeps an Outperform rating on the shares. While the firm lacks conviction on a return to traditional levels of sales growth, Scotiabank remains constructive on the stock, the analyst tells investors. The firm has confidence in the company’s margin expansion trajectory given cost visibility and planned synergy capture as well as the prospect of near-term catalysts