Gildan Activewear price target raised to $41 from $38 at CIBC

CIBC raised the firm’s price target on Gildan Activewear to $41 from $38 and keeps an Outperformer rating on the shares. The company’s “solid” Q4 results and “healthy” 2024 outlook relieved some fears in the market about weakening conditions affecting results, the analyst tells investors in a research note. The firm also believes investors welcomed new CEO Vince Tyra’s comments that he would execute and enhance, rather than alter, the “Sustainable Growth Strategy and Back To Basics pillars.”