Levi Strauss price target lowered to $19 from $22 at Guggenheim

Guggenheim analyst Robert Drbul lowered the firm’s price target on Levi Strauss to $19 from $22 and keeps a Buy rating on the shares as the firm reduced its FY23 and FY24 EPS estimates to $1.35 and $1.50 from $1.40 and $1.60, respectively, citing macro uncertainly following the company’s fiscal Q1 report. Levi’s track record of market share gains "provides us confidence that the company will adeptly navigate a challenging environment in 2023," Guggenheim tells investors.