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Fly News Breaks for November 3, 2017
GIL
Nov 3, 2017 | 07:13 EDT
BMO Capital analyst Stephen MacLeod downgraded Gildan Activewear to Market Perform from Outperform and lowered his price target to $30 from $34 following Q3 results. While the analyst believes the company remains well positioned for growth in Printwear and market gains in Branded Apparel, he says the latest quarter demonstrates that retail industry headwinds of lower traffic and inventory destocking are persistent and thus reduce near-term visibility.
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