RBC Capital lowered the firm’s price target on Gildan Activewear to $36 from $40 and keeps an Outperform rating on the shares. The company’s Q2 sales exceeded consensus forecasts while Adjusted EPS was in line, though the more notable item was the downward revision to full-year guidance, the analyst tells investors in a research note. While unit volume has been positive for Gildan, consumers have been trading down across product lines, the firm adds.
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