In a report published Thursday, Credit Suisse analyst Christian Buss initiated coverage on Hanesbrands HBI with an Outperform rating and $125.00 price target.
In the report, Credit Suisse noted, “We initiate coverage of Hanesbrands Inc. with an Outperform rating and a $125 target price. We are compelled by the potential for sustained double-digit earnings growth and upside to consensus estimates, driven by (1) benefits from a mix shift toward premium-priced products; (2) accretion from acquisitions in the intimates space; and (3) benefits from deployment of excess cash for debt paydown, incremental dividend payout, and eventual share repurchases. We see opportunity for nearly $7.5B in revenue and $10.00-plus in EPS by FY19.”
Hanesbrands closed on Wednesday at $105.91.
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