BofA lowered the firm’s price target on Levi Strauss to $16 from $18 and keeps a Neutral rating on the shares post the fiscal Q1 results. The analyst says strong underlying brand momentum in the company’s direct to consumer results offsets the lack of visibility on a second half of the fiscal year improvement, particularly in the wholesale business. The firm lowering its fiscal 2023 estimates to reflect the reduced Q2 outlook, saying Levi’s promotions are weighing on margins.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on LEVI: