02:02 PM EDT, 05/10/2024 (MT Newswires) -- Hanesbrands' ( HBI ) Q1 financial results would likely result in improved sentiment, UBS Securities said Thursday in a report.

The firm cited three data points cited by Hanesbrands ( HBI ) that are likely pushing sentiment "moderately higher," including the US innerwear business gaining 50 basis points of market share, the innerwear segment brand marketing investments rising to its highest level of almost 5% of sales in more than a decade, and inventory falling 28% year over year.

"At the same time, we doubt sentiment improves too much since [Hanesbrands' ( HBI )] results are still challenged in some areas," the firm said.

UBS maintained the company's neutral rating and $4.50 price target.

Hanesbrands ( HBI ) shares were up 5.5% in recent Friday trading.

Price: 4.94, Change: +0.26, Percent Change: +5.45