Stifel Nicolaus Reiterates Buy Rating On Hanesbrands

In a report published by Stifel Nicolaus, it reiterates the Buy rating on Hanesbrands (NYSE: HBI).

Stifel Nicolaus said that yesterday afternoon, Lee Wyatt, CFO, accompanied by Brian Lantz, VP IR, and Charlie Stack, Manager IR, presented at Stifel's 2011 Stifel Nicolaus Consumer Conference at the St. Regis hotel in NY. “We expect long-term investors will be rewarded as the company demonstrates pricing power across 2011 and, at some point, cotton prices stabilize or moderate and cotton concerns ease. We reiterate our Buy rating and target price of $34. Our 12-month target price of $34 is based on the straight average of 14x our 2011 EPS estimate of $2.70 and our DCF model.”

Hanesbrands closed yesterday at $25.19.