BTIG Reiterates Buy Rating on Levi Strauss & Co. (LEVI)

BTIG analyst Robert Drbul reiterated a Buy rating and $27.00 price target on Levi Strauss & Co. (NYSE: LEVI).

The analyst comments "3Q26 Earnings... LEVI reported net sales of $1.6 billion, in-line with our estimate, up 4.3% y/y. Adjusted EPS was $0.48 which included a net tariff refund benefit of $0.11. Excluding this, EPS would have been $0.37 (vs. BTIGe $0.36). Gross margin increased 450 bps to 66.2%, which included 490 bps from tariff refunds of which 120 bps were redeployed into the business. Excluding refunds, gross margin of 62.5% came in ahead of our 61.8%. Adjusted SG&A grew 6.2%, leading to an adjusted EBIT margin of 15.5%. Inventory ended the quarter at $1.25 billion, down 2.5% y/y. While DTC performance fell short of expectations during the quarter, we believe the results continued to highlight the benefits of LEVI's increasingly diversified business model, with strength across international markets, wholesale, and lifestyle categories offsetting softer traffic trends in the US and Europe. We are maintaining our $27 price target."

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 $19.51 yesterday.

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