UPDATE: BMO Capital Markets Initiates Gildan Activewear at Outperform; Leverage to Drive Growth - Gildan Activewear (NYSE:GIL)

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BMO Capital Markets initiated coverage on Gildan Activewear (NYSE: GIL) with an Outperform rating and a $37 price target. BMO Capital Markets noted, "With new manufacturing capacity coming online, Gildan is well positioned to leverage its competitive strengths (low-cost manufacturing, established supply chain and distribution, reputation for consistent quality) to pursue growth in both the Printwear (U.S. distributor channel growth, national accounts, international) and Branded Apparel segments (becoming a full-line supplier of basic family apparel, and growth with non-retailer consumer brands)."Gildan Activewear closed at $32.13 on Monday.

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