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Fly News Breaks for July 10, 2019
LEVI
Jul 10, 2019 | 10:47 EDT
JPMorgan analyst Matthew Boss reiterated an Overweight rating on Levi Strauss after the company reported adjusted Q2 EPS of 17c, which he notes was 4c above the "apples-to-apples" Wall Street consensus of 13c, and raised its FY19 top-line guidance to the "high-end" of its mid-single-digit prior constant currency growth forecast. Boss told investors in a post-earnings recap that he believes the quality of Q2 was "high," driven by the combination of constant currency revenue growth of 9% and "healthy" inventories exiting the quarter, and he also sees continued "beat & raise" opportunity in the second half of the year.
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