Levi Strauss price target raised to $23 from $21 at UBS

UBS raised the firm’s price target on Levi Strauss to $23 from $21 and keeps a Buy rating on the shares. The firm believes the market doesn’t fully appreciate Levi’s ability to leverage its strong brand name and investments in its direct-to-consumer channel. UBS forecasts strong sales growth and margin expansion drive a 16% 5-year EPS CAGR, and thinks this will make the stock’s price-to-earnings move toward 14-times from current 11-times, causing outperformance vs. Softlines peers. Levi’s Q4 report causes the firm to reiterate a Buy rating, UBS says in a research note on Friday.