Hanesbrands price target lowered to $4 from $5 at Barclays

Barclays analyst Paul Kearney lowered the firm’s price target on Hanesbrands to $4 from $5 and keeps an Equal Weight rating on the shares post the Q4 report. While there remains high visibility into margin recapture as inventories improve and lower cost product is sold, sales trends in Innerwear and Activewear remain pressured and this will continue into the start of fiscal 2024, the analyst tells investors in a research note.