In a report released today, Robert Drbul from Guggenheim maintained a Buy rating on Levi Strauss & Co (LEVI), with a price target of $26. The company’s shares closed on Friday at $22.45.
Drbul said:
“We are initiating coverage of Levi Strauss & Co. (LEVI) with a BUY rating and $26 PT (~17% implied total return from current levels; based on 21.7x our FY20E adj. EPS). Levi’s is a company with a very rich heritage, founded in 1853 and ‘inventing the blue jean’ shortly after, and today benefits from a high-quality, deep, and experienced management, led by CEO Chip Bergh (28 years at PG) and CFO Harmit Singh. As numerous growth strategies implemented by this team take hold, we foresee continued market share gains across apparel, globally, alongside improving profitability. We believe the Levi’s brand is iconic in nature; it is a genuine brand with a deep heritage.”
According to TipRanks.com, Drbul is a 5-star analyst with an average return of 12.3% and a 72.0% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Capri Holdings Limited, and Ascena Retail Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Levi Strauss & Co with a $26 average price target.
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Based on Levi Strauss & Co’s latest earnings release for the quarter ending November 30, the company reported a quarterly net profit of $97.1 million. In comparison, last year the company had a GAAP net loss of $19.01 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
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Levi Strauss & Co. engages in the design, marketing, and sale of apparel products. The company offers jeans, casual and dress pants, tops, shorts, skirts, jackets, footwear, and related accessories. It operates through the following geographical segments: Americas, Europe, and Asia.
