UPDATE: Goldman Sachs Reiterates CL-Buy Rating, Raises PT on Hanesbrands on 1Q13 EPS

In a report published Friday, Goldman Sachs analyst Taposh Bari reiterated a Conviction List Buy rating on Hanesbrands

, and raised the price target from $50.00 to $52.00. In the report, Bari noted, “We initiated HBI with a Conviction List Buy on March 22, 2013 based on the company's strategic evolution from debt deleverage to shareholder friendly capital allocation. At the time, we anticipated – over a 12 month horizon – the introduction of a dividend, bolt-on M&A and share repurchases. Our thesis is materializing at a faster pace, with HBI announcing a $0.20/share quarterly dividend last night (April 4). The company also pre-announced 1Q13 EPS, with better margins offsetting a predictably soft sales environment. New 1Q13 EPS guidance of $0.48-0.51 is above our original $0.36 estimate and consensus of $0.32. FY13 EPS of $3.25-3.40 is being reiterated despite the 1Q beat, likely conservatism on the part of management given the macro uncertainty. We reiterate our CL-Buy and raise our 12-month price target to $52 (from $50), representing a total return of 17%, including the newly issued 2% dividend yield.” Hanesbrands closed on Thursday at $45.12.