Levi Strauss & Co. (LEVI) PT Lowered to $19 at Citi

Citi analyst Paul Lejuez lowered the price target on Levi Strauss & Co. (NYSE: LEVI) to $19.00 (from $21.00) while maintaining a Neutral rating.

The analyst comments "We expect 4Q sales/EPS to be approximately inline with consensus and guidance. We are at $0.48 vs cons of $0.48 and guidance of ~$0.47. We model sales +5.4% vs cons of +5.2% and guidance of +MSD. We believe the DTC channel remained relatively strong globally, helped by continued fashion tailwinds (such as looser fits and the Beyonce campaign, which began in Oct). We believe wholesale remains relatively weak (it was -3% globally in 3Q), but likely improved sequentially. We believe 2025 sales and EPS guidance will be below consensus, hurt somewhat by FX headwinds. We expect sales guidance of +0.5-2.5% (vs consensus of +4.4%) and EPS guidance of $1.25-1.35 (vs consensus of $1.40). Although we expect 4Q results to be fine, we believe disappointing 2025 could move the stock lower."

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