Gildan Activewear Inc (TSX:GIL)
Shares Issued 120,477,689
Last Close 6/3/2008 $29.08
Wednesday June 04 2008 - In the News

The National Post reports in its Wednesday, June 4, edition that CIBC Global Asset Management's Domenic Monteferrante likes Gildan Activewear despite its recent production and cost problems that have driven down shares. The Post's Jonathan Ratner writes that Mr. Monteferrante has a buy and hold, bottom-up stock-picking approach for the CIBC Dividend Fund.
Mr. Monteferrante also uses a strategy of comparing internal outlooks and the Street's expectations. Mr. Monteferrante is sticking with Gildan Activewear, while acknowledging it has become a "show me" stock that he will continue to monitor.
He is underweight the gold sector, saying the volatility of gold prices doesn't build long-term shareholder value.
Gildan stock slipped 39 cents to close Tuesday on the Toronto Stock Exchange at $29.08. The stock has a one-year range of $24.07 to $44.55. RBC analyst Sarah O'Brien said in the Post on May 7 that she expected Gildan stock, which was then trading at $28.23, to bounce back in a few weeks. She said the current share price was a "buying opportunity." In the same item Raymond James analyst Andy Nasr rated Gildan "strong buy." He hiked his price target by $5 to $50.