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Fly News Breaks for October 18, 2019
GIL
Oct 18, 2019 | 05:05 EDT
Stifel analyst Jim Duffy downgraded Gildan Activewear to Hold from Buy with a price target of $30, down from $44. The company's pre-released shortfall was attributed to weak end-market demand for printwear globally, Duffy tells investors in a research note. This undermines a "credible case" for revenue growth at Gildan along with the associated rate of margin expansion and earnings improvement, adds the analyst.
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