UPDATE: Stifel Downgrades Hanesbrands; Organic Margin Improvement Limited
In a research note published Friday, Stifel Nicolaus downgraded Hanesbrands (NYSE: HBI) from Buy to Hold and removed the price target of $73. Looking forward, “opportunity for organic margin improvement and earnings leverage is more limited,” said the firm's Jim Duffy.
Hanesbrands' plan to fuel double-digit earnings per share growth through acquisitions and “the Maidenform acquisition, integration, and margin improvement opportunities (1000bps over 3 yrs.) [are] a testament to the Company's integration competency,” according to Duffy.
Shares are down 1.3 percent to $73.97 following the downgrade. Hanesbrands are up a whopping 231 percent since January 2012.
Latest Ratings for HBI
|Sep 2014||Wunderlich||Initiates Coverage on||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.