5 Best Canadian Dividend Stocks to Buy for the Next 5 Years

3. Gildan Activewear Inc. (NYSE:GIL)

Number of Hedge Fund Holders: 42

On June 17, Scotiabank lowered its price recommendation on Gildan Activewear Inc. (NYSE:GIL) to $65 from $72. It reiterated an Outperform rating on the stock. Analyst John Zamparo said the recent short report is likely to weigh on near-term investor sentiment. Even so, the firm remains confident in Gildan’s ability to generate strong free cash flow and earnings per share and continues to hold a positive view on the stock.

A day earlier, on June 16, UBS maintained its Buy rating on Gildan Activewear with a $110 price target. Analyst Jay Sole said the stock had sold off following a short report that claimed Wall Street’s revenue forecast was too high. UBS views the pullback as an “excellent buying opportunity.” The firm does not believe Gildan will miss its fiscal 2026 revenue outlook. Sole also said the company’s December analyst day is expected to be a positive catalyst rather than an event where management will have to explain a significant reduction in its guidance.

Gildan Activewear Inc. (NYSE:GIL) manufactures everyday basic apparel. Its product portfolio includes activewear, underwear, and socks, which are sold to wholesale distributors, screen printers and embellishers, retailers with physical stores and e-commerce platforms, as well as global lifestyle brand companies.