UPDATE: Citigroup Reiterates Hanesbrands at Buy Ahead of Q4 Results
Citigroup maintained Hanesbrands (NYSE: HBI) with a Buy rating and a $48 price target.
Citigroup noted, "HBI reports 4Q12 EPS on 02/05/13 (AMC). We are expecting $1.07 versus the street at $0.98. HBI guided 4Q12 EPS to $1.00-$1.06. HBI's 2012 EPS guidance is $2.54-$2.60 vs. our estimate of $2.63 and consensus of $2.53. We believe investors will focus on 2013 expectations and guidance, pricing expectations, unit growth, market share gains, the cotton windfall in 2013, acquisitions, and capital allocation. We reiterate our Buy (1) rating on HBI."
Hanesbrands closed at $37.74 on Friday.
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