BofA Securities Upgrades Levi Strauss & Co. (LEVI) to Buy

BofA Securities analyst Christopher Nardone upgraded Levi Strauss & Co. (NYSE: LEVI) from Neutral to Buy with a price target of $20.00 (from $17.00).

The analyst comments "We are upgrading LEVI to Buy; shares are down 38% from last year’s highs and we think the positives outweigh the incremental risks at 6x EV/EBITDA. LEVI checks a lot of encouraging boxes: sales momentum coupled with a conservative revenue outlook, minimal China risk (sourcing and sales), an improving wholesale trajectory, a diversified supply chain, and a strong balance sheet. We are increasing our PO to $20 (from $17), or 8x F26E EV/EBITDA (from 8x F25E) as we roll forward our base year to F26."

For an analyst ratings summary and ratings history on Levi Strauss & Co. click here. For more ratings news on Levi Strauss & Co. click here.

Shares of Levi Strauss & Co. closed at $14.93 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results
• Berkshire adds significantly to Alphabet position, starts small position in DR Horton