Hanesbrands price target lowered to $5 from $6 at Stifel

Stifel lowered the firm’s price target on Hanesbrands to $5 from $6 and keeps a Hold rating on the shares. The company’s execution in Q3 was “solid,” with better than expected inventory progress, the analyst tells investors. While guidance for the year for cash flow and debt reduction was maintained, the operating environment is challenging, the firm says.