UPDATE: Credit Suisse Initiates Coverage On Hanesbrands Inc. On Multiple Growth Drivers

In a report published Thursday, Credit Suisse analyst Christian Buss initiated coverage on Hanesbrands Inc. (NYSE: HBI) with an Outperform rating and $125.00 price target.

In the report, Credit Suisse noted, “We initiate coverage of Hanesbrands Inc. with an Outperform rating and a $125 target price. We are compelled by the potential for sustained double-digit earnings growth and upside to consensus estimates, driven by (1) benefits from a mix shift toward premium-priced products; (2) accretion from acquisitions in the intimates space; and (3) benefits from deployment of excess cash for debt paydown, incremental dividend payout, and eventual share repurchases. We see opportunity for nearly $7.5B in revenue and $10.00-plus in EPS by FY19.”

Hanesbrands Inc. closed on Wednesday at $105.91.