Hanesbrands price target raised to $8 from $6 at Stifel

Stifel raised the firm’s price target on Hanesbrands (HBI) to $8 from $6 and keeps a Hold rating on the shares after revenue beat estimates for the first time since Q1 of 2023 and flowed to EPS upside in Q3. The firm, which also notes that the improved FY24 adjusted EPS outlook of 39c tops the prior 31c-37c range, argues that the value creation model hinges on consistent topline growth, adjusted EBIT margin expansion, cash generation and interest expense reduction.