Scotiabank resumes Gildan with an Outperform, sees ‘attractive defensiveness’

As previously reported, Scotiabank resumed coverage of Gildan Activewear (GIL) with an Outperform rating and $55 price target Industry and company conditions are clearly more difficult this year after “a very favorable 2024,” but Gildan’s low-cost structure and advantageous supply chain positions the company to take share as it faces weakened competition, the analyst tells investors. The stock has declined about 12% from its peak, notes the firm, which doesn’t expect a repeat of its run from a year ago, but sees Gildan offering “attractive defensiveness within the discretionary space.”