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LEVI

Levi Strauss

$16.22

-1.005 (-5.84%)

06:40
08/15/19
08/15
06:40
08/15/19
06:40

Levi Strauss upgraded to Buy at BofA/Merrill on valuation and brand momentum

BofA/Merrill analyst Heather Balsky upgraded Levi Strauss to Buy but lowered her price target to $20 from $25. The analyst says the company stands out with potential upside to revenue and earnings thanks to its strong brand momentum, and sees the current valuation of 8-times enterprise value to expected FY20 EBITDA as "attractive" relative to its post-IPO peak of 11-times. The analyst remains concerned about Levi's department store exposure in a tougher macro environment, but contends that the company can generate more market share gains.

LEVI Levi Strauss
$16.22

-1.005 (-5.84%)

07/10/19
JPMS
07/10/19
NO CHANGE
JPMS
Overweight
Levi 'beat and raise' potential remains after 'high quality' Q2, says JPMorgan
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.
07/17/19
GSCO
07/17/19
DOWNGRADE
Target $19
GSCO
Sell
Levi Strauss downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Alexandra Walvis downgraded Levi Strauss (LEVI) to Sell from Neutral and lowered her price target for the shares to $19 from $21. The stock closed Tuesday down 33c to $19.80. The analyst, who also downgraded Ralph Lauren (RL) and PVH Corp. (PVH) this morning to Sell, expects headwinds for wholesale-led apparel brands to intensify in the second half of 2019. Walvis forecasts "ongoing superior brand momentum" and growth at Levi relative to peers, but beeves this is well understood by investors. Further, recent results show that the company is not immune from U.S. wholesale challenges, the analyst tells investors in a research note. Despite this, Levi's relative valuation multiple has expanded versus peers, which is unwarranted, contends Walvis.
07/17/19
07/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Micro Focus (MFGP) downgraded to Sell from Neutral at Goldman Sachs. 2. Wells Fargo (WFC) downgraded to Neutral from Outperform at Macquarie. 3. Alliance Resource Partners (ARLP) downgraded to Neutral from Buy at B. Riley FBR with analyst Lucas Pipes citing the company's "disappointing" sales volumes in Q2 for the downgrade. 4. 58.com (WUBA) downgraded to Neutral from Outperform at Credit Suisse. 5. Ralph Lauren (RL), Levi Strauss (LEVI), and PVH Corp. (PVH) downgraded to Sell from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/15/19
BOFA
08/15/19
UPGRADE
BOFA
Buy
Levi Strauss upgraded to Buy from Neutral at BofA/Merrill

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NTLA

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NVLN

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TNXP

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ATIS

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CVEO

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AGO

Assured Guaranty

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