Gildan Activewear price target raised to $70 from $61 at BMO Capital

BMO Capital raised the firm’s price target on Gildan Activewear (GIL) to $70 from $61 and keeps an Outperform rating on the shares. The firm views the company’s acquisition of HanesBrands (HBI) positively as the deal creates a global basics apparel leader, combining Gildan’s leading activewear position with HanesBrands’ leading position in U.S. innerwear, with a more diversified product & channel mix, the analyst tells investors in a research note.