Levi Strauss & Co. (LEVI) PT Raised to $32 at UBS

UBS analyst Jay Sole raised the price target on Levi Strauss & Co. (NYSE: LEVI) to $32.00 (from $28.00) while maintaining a Buy rating.

The analyst comments "We believe LEVI’s ongoing transformation into a global, multi-channel, lifestyle brand for both men and women from what traditionally was a North America, wholesale, men’s, denim business should continue to fuel share gains over the LT. LEVI’s solid 3Q report increases our conviction in our Buy rating and causes us to raise our PT 14% to $32. We expect continued strong results to increasingly convince the market LEVI's transformation will allow it to consistently deliver +MSD% revenue growth at a healthy margin. We believe this will cause the market to view LEVI the same way it views RL and TPR, resulting in the market giving LEVI a similar high-quality P/E those stocks have. Tariffs are a headwind, but we think LEVI is well positioned to mitigate the costs."

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