08:22 AM EDT, 08/14/2025 (MT Newswires) -- RBC Capital Markets raised its price target on Gildan Activewear Inc. ( GIL ) to US$68 from US$61.

Analyst Ryland Conrad maintained an Outperform rating on shares of the Canadian clothing manufacturer.

On Wednesday, Gildan said it agreed to acquire Hanesbrands for US$2.2 Billion.

The stock rose $7.97, or 12%, to $75.62 on the Toronto Stock Exchange.

"We view the acquisition of HanesBrands as a complementary and logical fit," Conrad said in a note to clients.

"Our investment thesis for Gildan is largely centred around the company's position to capture share over the medium-term, supported by its vertically integrated low-cost manufacturing model alongside multiple structural drivers and in our view, the acquisition of Hanes bolsters the company's ability to execute against this playbook," the analyst said.

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