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National Bank analyst Vishal Shreedhar raised the firm's price target on Gildan Activewear to C$43 from C$42 and keeps an Outperform rating on the shares.

Canaccord analyst Luke Hannan raised the firm's price target on Gildan Activewear to $42.50 from $37 and keeps a Buy rating on the shares. The analyst believes the combination of stronger margins as a result of Back to Basics cost savings, the comany's low-cost manufacturing footprint, a healthy FCF generation profile and an attractive valuation creates a favorable risk/reward profile for the shares.

Stifel analyst Jim Duffy lowered the firm's price target on Gildan Activewear to $29 from $43 and keeps a Hold rating on the shares. He cut estimates for nearly all Americas Sports and Lifestyle Brands companies in his coverage due to high inventories, lower traffic, and early promotions. While his changes were made on a case by case basis, on average he made about a 9% reduction for the group as his revised base case assumes a soft landing for the U.S. with no recession, but that inventory imbalances and promotions pressure margins and revenues for the group, Duffy said.

UBS analyst Jay Sole lowered the firm's price target on Gildan Activewear to $42 from $54 and keeps a Buy rating on the shares as part of a broader research note on Softlines Retail. The analyst sees continued elevated risk that inflation will decelerate industry sales growth and weigh on market sentiment. While softline stocks have underperformed the S&P500 with 38% year-to-date average decline, more pressure ahead is likely as investors indicate little interest in buying amid decelerating sales environment, Sole tells investors in a research note.