Gildan Activewear price target raised to $54 from $51 at Stifel

Stifel raised the firm’s price target on Gildan Activewear to $54 from $51 and keeps a Buy rating on the shares. After hosing a call with a cotton trader with the ECOM group for a discussion on the outlook for cotton prices, the analyst contends that expected low cotton price volatility could benefit Gildan. Demand in end-markets should remain depressed, but Gildan should continue to gain market share, translating to revenue growth, the analyst added.