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Fly News Breaks for August 2, 2019
Aug 2, 2019 | 07:04 EDT
Desjardins analyst Keith Howlett graded Gildan Activewear to Buy from Hold and raised his price target for the shares to C$57 from C$48 following the company's Q2 results. Amid increasing trade tensions between the U.S. and China, Gildan will be "relatively well-positioned" as most of its production utilizes U.S. cotton yarn and is based in Central America, Howlett tells investors in a research note. Further, he believes the company's gross margin rate will begin to visibly improve in Q4 and further increase in 2020, potentially reaching the targeted 30% in 2021.
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