Levi Strauss price target raised to $22 from $18 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Levi Strauss to $22 from $18 and keeps an Outperform rating on the shares. Last quarter was a “mixed bag,” though all three regions returned to growth for the first time since Q2 of 2022 and continued strength in DTC offset continued softness in wholesale, the analyst tells investors. While FY24 guidance appears conservative on both top and bottom lines, Telsey believes this is a prudent approach as new CEO Michelle Gass takes the helm. Telsey continues to believe Levi is well positioned with a strong and growing DTC business.