Levi Strauss & Co. (LEVI) PT Lowered to $25 at TD Cowen

TD Cowen analyst Oliver Chen lowered the price target on Levi Strauss & Co. (NYSE: LEVI) to $25.00 (from $26.00) while maintaining a Buy rating.

The analyst commented, "Strong growth in global direct-to consumer (~43% of mix) could be offset by continued softness in the Europe wholesale channel (~13% of mix). Also, our survey checks point to both non-denim bottoms and Western denim brand competitors like Wrangler (KTB, not covered) gaining share. Lowering PT but reiterating Buy as our DTC-driven thesis remains intact."

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