Inside the Market’s roundup of some of today’s key analyst actions
) “strong” environmental, social and governance initiatives as a “competitive advantage,” emphasizing its targets are “more aggressive and with shorter time-frames” than its peers.
“Gildan started its ESG journey more than 20 years ago when it built its first Biotop wastewater treatment system,” said Mr. Landry. “In the following years, management continued to invest in infrastructures to reduce the company’s carbon emission footprint and in 2022, ESG became one of three pillars of the company’s strategy.”
Also touting its “strong” return on invested capital, “healthy” balance sheet and the expectation for double-digit earnings per share compound annual growth, Mr. Landry raised his target for Gildan shares to US$37 from US$35, keeping a “buy” recommendation. The average target on the Street is US$36.92, according to Refinitiv data.
“After relatively stagnant earnings for roughly three years, QST’s Board of Directors announced it would replace its CEO,” Mr. Monachello said. “We understand the Board is in advanced talks with various external candidates, each with extensive leadership backgrounds in the energy sector, and could have a replacement announced as early as October.
“Nevertheless, this ambition remains to be actualized, and we believe upside for investors is limited until there is evidence of a significant and sustainable improvement in growth rates and profitability,” he said.
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