Hanesbrands Inc. (NYSE:HBI) is one of the 11 Best US Stocks to Invest in Under $5. On May 19, Barclays analyst Adrienne Yih raised the price target for Hanesbrands Inc. (NYSE:HBI) from $5 to $6 while keeping an “Equal Weight” rating.
This decision came after several meetings with the company’s management, which provided important insights into how the company is doing and its future plans.
A factory worker using modern technology to assemble a garment.
Yih noted that the overall tone from these meetings was optimistic and management showed confidence in their strategy and the growth potential for Hanesbrands Inc. (NYSE:HBI). Despite industry challenges like intermittent tariffs, the company is seen to have handled these well. Yih expects no major supply chain disruptions from tariffs for the rest of the year.
The reason for raising the price target on Hanesbrands Inc. (NYSE:HBI) was a change in the valuation multiple used to value the company, which moved from 9 times to 10 times.
Hanesbrands Inc. (NYSE:HBI) is an American multinational clothing company that is known for its basics and innerwear brands.
While we acknowledge the potential of HBI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.
Disclosure: None.
Add Comment