Hanesbrands' (HBI) outgoing chief executive is expected to continue executing the company's strategic initiatives over the next year and leave it in a "better position" to deliver sustainable earnings growth beyond 2025, UBS Securities said in a Friday note.
Hanesbrands said Thursday that Chief Executive Steve Bratspies will step down at the end of 2025, or after a successor in named. On the same day, the company reported fiscal Q4 adjusted earnings of $0.17 per diluted share and $888.5 million in net sales for the quarter.
The clothing company's stock fell after the announcements and UBS attributed the pullback to Bratspies' "unexpected" resignation.
"As much as we are disappointed by the news, we don't see a reason to downgrade HBI now given the stock has already reacted, in our view," UBS said. According to the investment firm, Hanesbrands is likely to need a leader with a "moderately different skill set" for its next chapter.
UBS reiterated a buy rating on Hanesbrands with a price target of $11.
Price: 6.02, Change: -0.23, Percent Change: -3.68
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。