The Globe and Mail reports in its Friday, Dec. 19, edition that Desjardins Securities analyst Chris Li rates Gildan Activewear "buy," with an unchanged share target of $95. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $100.55. Mr. Li says in a note: "At approximately 14 times EPS, we believe valuation is attractive vs Gildan's expectation for more than 20-per-cent CAGR (three-year) and strong FCF conversion supporting an increase in capital return. We believe depressed valuation reflects a wait-and-see perspective from investors for better visibility on the HBI integration and synergies. Following the recent closing of the deal, we expect management to provide more details, likely with Q4 results in February. This could be a catalyst. We believe the majority of the EPS growth is 'controllable' (cost synergies, debt refi, share buyback, etc) with upside to cost synergies. Another potential catalyst is the divestiture of non-core/underperforming assets that would accelerate debt reduction, enabling Gildan to recommence its NCIB sooner." The Globe reported on Oct. 31 that TD Cowen rated Gildan "buy." The shares could then be had for $81.79.