Desjardins Remains a Buy on Gildan Activewear (GIL)

In a report released yesterday, Chris Li CFA from Desjardins maintained a Buy rating on Gildan Activewear (GILResearch Report), with a price target of C$52.00. The company’s shares closed yesterday at $28.47.

According to TipRanks, Li CFA is a 2-star analyst with an average return of -1.3% and a 46.15% success rate. Li CFA covers the Consumer Goods sector, focusing on stocks such as Gildan Activewear, Dollarama, and Canadian Tire.

Currently, the analyst consensus on Gildan Activewear is a Strong Buy with an average price target of $37.38, implying a 31.30% upside from current levels. In a report released on November 2, RBC Capital also maintained a Buy rating on the stock with a $40.00 price target.

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Based on Gildan Activewear’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $895.58 million and a net profit of $158.24 million. In comparison, last year the company earned a revenue of $747.15 million and had a net profit of $146.44 million

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Gildan Activewear, Inc. engages in the manufacture and sale of printwear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand name Gildan, American Apparel, Comfort Colors, Gold Toe, Anvil, Secret, Silks, Kushyfoot, Peds, and Mossy Oak. The company was founded by Glenn J. Chamandy and H. Gregory Chamandy on May 8, 1984 and is headquartered in Montréal, Canada.

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