The Globe and Mail reports in its Friday, July 14, edition that growth prospects for Gildan Activewear ($29.88) are "muted" in the near term, and that has led Canaccord analyst Derek Dley to downgrade the stock to "hold" from "buy," while maintaining his share target at $32 (all figures U.S.). The Globe's Gillian Livingston writes that analysts on average target the shares at $32.86. Mr. Dley says in a note: "For the quarter, we are forecasting EBITDA [earnings before interest, taxes, depreciation and amortization] of $157-million, below consensus of $160-million, while our EPS [earnings per share] estimate of 46 cents, is a penny below consensus of 47 cents, but above last year at 41 cents. While we continue to like the medium- and long-term prospects for Gildan, over the remainder of 2017, outside of a meaningful acquisition, we believe year over year earnings growth will remain relatively muted, and are comfortable moving to the sidelines given the recent strength in Gildan's share price. Gildan's shares have appreciated 13.9 per cent since the beginning of 2017, driven in part by the company's strong Q1/17 earnings results, coupled with management reiterating Gildan's 2017 EPS guidance of $1.60-1.70."