Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Levi Strauss to $18 from $20 and keeps an Overweight rating on the shares. Levi’s Q1 print was "messy," and while EPS beat and the FY EPS plan was reiterated, the key issue was further gross margin headwinds, as well as inventory levels that remain elevated, the analyst tells investors in a research note.
Published first on TheFly
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