The Globe and Mail reports in its Thursday, May 29, edition that Scotia Capital analyst John Zamparo has resumed coverage on Gildan Activewear with a "sector outperform" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo set a share target of $55 (U.S.). Analysts on average target the shares at $56.90 (U.S.). Mr. Zamparo says in a note: "Gildan operates a solid business model, with high margins, ROIC and FCF conversion, and faces weakened competition. Industry and company conditions are clearly more difficult this year after a very favourable 2024. However, in our view, Gildan's low-cost structure and advantageous supply chain (U.S.-sourced cotton, avoidance of China) positions the company to take share, which is crucial given potentially minimal sales growth industry-wide this year. The stock has declined approximately 12 per cent from its peak, and while we don't expect it to repeat its run from a year ago, we believe Gildan offers attractive defensiveness within the discretionary space." The Globe says Mr. Zamparo warns 2025 "represents a challenging year for the apparel space" and says he expects "modest consumer spending growth." He says a decline is possible.