Levi Strauss & Co. (LEVI) PT Raised to $28 at Stifel

Stifel analyst Peter McGoldrick raised the price target on Levi Strauss & Co. (NYSE: LEVI) to $28.00 (from $27.00) while maintaining a Buy rating.

The analyst comments "2Q represents a high-quality beat and raise, driven by the most important long-term drivers (primarily Women’s, +11% y/y). While strength and increased guidance was anticipated (see our preview note) we are encouraged by the makeup of growth (two-thirds from volume) and strengthening margin despite headwinds. A conservative bent on 2H guidance points to revenue upside, and we also believe margin holds capacity as the year unfolds beyond the tariff recapture. We are comfortable with our estimates above the high-end of the range ($1.60 FY26E base case EPS), and ultimately see capacity for $6.85bn revenue and $1.70 adj. EPS in FY26E with +LDD% EPS capacity thereafter. We increase our target price from $27 to $28 representing 9.6x EV/EBITDA on our FY27E adj. EBITDA estimate of $1,159mn (15.5x P/E on FY27E)."

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