Guggenheim Reiterates Buy Rating on Levi Strauss & Co. (LEVI) Following Investor Call

July 15, 2020 7:50 AM EDT
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Price: $25.73 +3.08%

Rating Summary:
    10 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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Guggenheim analyst Robert Drbul reiterated a Buy rating and $16.00 price target on Levi Strauss & Co. (NYSE: LEVI) following an investor call with management. Due to the sales volume ramp related to COVID-19 and an expansion of services, e-commerce will be profitable in 2020, a year ahead of expectation.

LEVI announced plans to open >100 new digitally-enabled stores during its 6/7 2Q20 earnings call. While the majority of companies in Guggenheim's coverage have suspended store growth strategies in the wake of the pandemic, LEVI leans into the opportunity to grow market share, brand recognition, and its footprint.

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 $12.55 yesterday.

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Earnings, Robert Drbul, Guggenheim