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FINWIRES

UBS Keeps Gildan Activewear's Buy Rating, US$110 Price Target

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-- UBS on Friday maintained its buy rating on the shares of Gildan Activewear (GIL.TO, GIL) and its US$110 price target ahead of the company's first-quarter results.

UBS said it expects Gildan to meet expectations, adding that the company is unlikely to change its 2026 guidance.

As a result, UBS does not anticipate meaningful movement in Gildan's P/E ratio following the release of the company's first-quarter results scheduled on April 30.

According to UBS, a potential upside risk is Gildan's potential announcement of the sale of HanesBrands Australia.

"While we doubt the Q1 earnings event will be a major catalyst, we remain bullish on GIL," UBS said.

"Our view is the market underestimates the positive accretion GIL will generate from the HBI deal. Furthermore, we believe the market is overestimating the negative impact on GIL's margins from the rise in oil and cotton prices," UBS added.

Price: $81.52, Change: $+3.42, Percent Change: +4.38%

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