Canaccord Reiterates Buy On Gildan Activewear, Increases PT To $66

In a research note issued today, Canaccord analyst Derek Dley reiterated a Buy rating on Gildan Activewear Inc. (GIL) and raised his price target to $66.00 (from $64.00) following the acquisition of Doris Inc.

“We view the acquisition very positively, as not only does it extend Gildan’s product portfolio into women’s hosiery, it also allows the company to leverage Doris’ retail relationships (including across the drug store channel) for further penetration of Gildan’s branded products, both in Canada and the U.S.”, said Dley.

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