Hanesbrands, Inc. (HBI) – Bull of the Day
Source: http://www.zacks.com/commentary/11678/Hanesbrands%2C+Inc.+%28HBI%29+-+Bull+of+the+DayPosted on Friday, July 31st, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Hanesbrands, Inc. (HBI) management’s business model requires only modest
sales growth to create substantial EPS growth. Earnings are being driven by brand-building and cost-reduction initiatives.
Since the spin-off in September 2006, the company has reduced debt by $511 million, lowering interest expense from the post spin-off financial structure. However, management is reporting non-GAAP EPS, which excludes unusual actions, which may be distorting perceived earnings.
The Buy rating is maintained due to valuation. Currently, our six-month target price is $20.50 per share.Zacks Investment Research
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