Citi opens ’30-day positive catalyst watch’ on Hanesbrands

Citi opened a “30-day positive catalyst watch” on shares of Hanesbrands (HBI), saying consensus earnings estimates are too low for fiscal 2025. Citi expects the company to guide fiscal 2025 earnings per share in a range of 60c-70c versus the consensus estimate of 52c. Lower product costs are likely to drive gross margin guidance above consensus, the analyst tells investors in a research note. The firm keeps a Neutral rating on the shares with a $9 price target