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LEVI

Levi Strauss

$16.68

-0.19 (-1.13%)

10:16
09/03/19
09/03
10:16
09/03/19
10:16

Levi Strauss to acquire operating assets from distributor The Jeans Company

Levi Strauss & Co. announced it has entered into an asset purchase agreement to acquire all operating assets related to the Levi's and Dockers brands from The Jeans Company, LS&Co.'s distributor in Chile, Peru and Bolivia, for approximately $35M, plus transaction costs. This includes approximately 80 Levi's and Dockers retail stores, distribution with the region's leading multi-brand retailers, and the logistical operations in these markets. LS&Co. has stopped shipping inventory to TJC in anticipation of the transition of operations, which will have an estimated impact of approximately $20M on LS&Co. revenues in the second half of 2019. The impact on revenue will be distributed roughly evenly between the third and fourth fiscal quarters. LS&Co. does not expect any similar negative revenue impact to fiscal 2020. Completion of the transaction is subject to a number of closing conditions. Subject to such conditions, the transaction is expected to close by the end of the year. During this time, Levi's and Dockers stores in the region are expected to remain open for business without interruption. "Deploying capital through organic acquisitions is a key part of our long-term strategy to become a world-class omni-channel retailer. This transaction will further diversify our business, create operational synergies and enhance shareholder value," said CFO Harmit Singh.

LEVI Levi Strauss
$16.68

-0.19 (-1.13%)

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
08/15/19
BOFA
08/15/19
UPGRADE
Target $20
BOFA
Buy
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.
08/15/19
08/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pinterest (PINS) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg citing his belief that the company is well positioned as a host of content for the advertising industry that is in the early stages of monetizing its mostly international user base. 2. Gain Capital (GCAP) upgraded to Overweight from Neutral at JPMorgan with analyst Kenneth Worthington saying he sees potential for Gain's earnings to rise on the back of higher market volatility. 3. Vipshop (VIPS) upgraded to Buy from Hold at Jefferies and to Outperform from Neutral at CICC. 4. Levi Strauss (LEVI) upgraded to Buy from Neutral at BofA/Merrill with analyst Heather Balsky saying 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. 5. Essex Property Trust (ESS) upgraded to Buy from Neutral at BTIG with analyst James Sullivan saying he sees continued strong demand in the company's California markets, driven by improving job growth in Orange County. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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IPHI

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HUYA

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NLY

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$NSD

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