TD Cowen lowered the firm’s price target on Levi Strauss to $25 from $26 and keeps a Buy rating on the shares. The firm previewed its Q3 results and was cautious as strong growth in global direct-to-consumer could be offset by continued softness in the Europe wholesale channel. Also, their survey checks point to both non-denim bottoms and Western denim brand competitors like Wrangler gaining share.
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