- Telsey Advisory Group analyst Dana Telsey reiterated its Outperform rating on Levi Strauss & Co (NYSE:LEVI) with a price target of $30.00 (80% upside).
- The analyst noted LEVI reported another solid quarter, delivering better than expected results across the board despite persistent global macro headwinds.
- Telsey said the upside was driven by broad-based outperformance reflecting balanced growth in all three Levi’s brands’ geographies.
- Related: Levi Strauss Shares Gain After Q2 Results Beat Expectations, Raised Dividend
- The analyst added that the company maintained its outlook despite better-than-expected Q2 earnings due to continued macro pressures.
- Telsey thinks Levi emerged from the pandemic in a structurally sounder position, with AUR growth, improved distribution focused on the profitable DTC channel, and a new brand in the attractive premium activewear category.
- Telsey believes LEVI remains well-positioned, reaching a younger and broader demographic while expanding its reach and category offering with the Beyond Yoga acquisition.
- Price Action: LEVI shares are trading higher by 1.34% at $16.63 on the last check Friday.
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