Levi Strauss price target raised to $21 from $16 at Citi

Citi raised the firm’s price target on Levi Strauss to $21 from $16 and keeps a Neutral rating on the shares. The company reported a big earnings beat in Q1 driven by better gross margins, the analyst tells investors in a research note. The firm says Levi’s year has gotten off to a good start and category tailwinds, such as new styles, fits and Beyonce’s “shout-out” seem likely to help the company’s sales.