The Globe and Mail reports in its Friday, Feb. 23, edition that Stifel analyst Martin Landry is sticking with his "hold" call on Gildan Activewear. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry boosted his share target by $2 to $36 (all figures U.S.). Analysts on average target the shares at $39.64. While its fourth quarter 2023 results exceeded expectations and guidance for 2024 fell in line with the Street's projections, Mr. Landry is still not convinced Gildan can accelerate its growth beyond the low-single-digits revenue growth realized in the last five to 10 years. Mr. Landry says in a note: "Gildan has grown revenues at a 2-per-cent CAGR [compound annual growth rate] over the last five years and at a 4-per-cent CAGR over the last 10 years. We believe the company's growth prospects are unclear, and we struggle to see how the company could accelerate its growth in the future. While Gildan's back-to-basics strategy drove margin expansion and strong EPS growth, we do not foresee significant margin improvement from 2024 levels. We model an EPS growth of 6 per cent in 2025, and are using a valuation multiple of 11.5 times, which represent a PEG ratio of near two times."