Hanesbrands PT Raised to $46.00 at Stifel Nicolaus (HBI)
“We left the meetings encouraged by the depth of management talent, thoughtful approach to gathering and leveraging consumer insights and cohesive innovation-based strategy to move the business forward in each of the major categories. Store tour insights showed strong evidence that the Innovate-to-Elevate strategy is yielding share gains, supporting a higher price per unit, and that leverage of the supply chain is resulting in lower cost per unit. Accordingly, we have increased confidence in earnings power in 2013 and beyond.,” the firm’s analyst wrote.
Hanesbrands opened at 39.57 on Friday. Hanesbrands has a 1-year low of $24.64 and a 1-year high of $40.74. The stock’s 50-day moving average is currently $38.75. The company has a market cap of $3.889 billion and a price-to-earnings ratio of 24.07.
A number of other analysts have also recently weighed in on HBI. Analysts at Barclays Capital raised their price target on shares of Hanesbrands from $35.00 to $40.00 in a research note to investors on Wednesday, February 6th. They now have an equal weight rating on the stock. Separately, analysts at Janney Montgomery Scott reiterated a buy rating on shares of Hanesbrands in a research note to investors on Wednesday, February 6th. Finally, analysts at Citigroup reiterated a buy rating on shares of Hanesbrands in a research note to investors on Monday, February 4th. They now have a $48.00 price target on the stock.
Seven analysts have rated the stock with a buy rating, one has issued an overweight rating, and two have assigned a hold rating to the company’s stock. The company has an average rating of overweight and an average price target of $45.00.
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