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Fly News Breaks for October 21, 2015
HBI
Oct 21, 2015 | 07:40 EDT
Noting that Hanesbrands' (HBI) stock has dropped 7% since October 14, Oppenheimer blames the decline on worries about the company's exposure to Wal-MArt (WMT). However, the firm says that Hanesbrands lost less than 1% of its sales in 2015 due to Wal-Mart cut backs on basics. As a result, the firm thinks the decline in the stock is unwarranted. It keeps a $35 price target and Outperform rating on the shares.
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