Gildan (GIL) Continues Lower as Numerous Analysts Cut Price Target

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December 12, 2008 11:02 AM UTC
Get Alerts GIL Hot Sheet
Price: $62.43 -5.11%

Rating Summary:
    11 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Shares of Gildan Activewear (NYSE: GIL) are continuing lower today following a 35% decline yesterday on a Q4 earnings miss and weak Q1 and FY09 guidance. The stock is currently down 4.8% to $8.75.

Gildan may be seeing further downside today as we have seen several analysts cut their price targets on the stock this morning.
  • BMO Capital cut its price target on Gildan from $34.50 to $14.50
  • Raymond James moved its target from $35 to $15, and
  • RBC Capital lowered its target from $26 to $15
Gildan Activewear Inc. supplies activewear for the wholesale imprinted sportswear market in the United States and Canada, as well as in Europe.

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