UBS upgraded Hanesbrands (HBI) to Buy from Neutral with a price target of $11, up from $9. The firm said that Hanesbrands is a “turnaround stock,” and believes a positive inflection in its business fundamentals is about to happen. This turnaround should drive a roughly 24% EPS CAGR post the current fiscal year, and UBS anticipates this type of growth leads to upward EPS revisions, the analyst tells investors in a research note.
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Read More on HBI:
- HanesBrands (HBI) Delivers Surprising Q3 Results as it Sells off Champion Brand
- Hanesbrands price target raised to $7 from $6 at Barclays
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- Hanesbrands Reports Strong Q3 2024 Performance
- Hanesbrands reports Q3 adjusted EPS 15c, consensus 12c
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
