These Analysts Revise Their Forecasts On Levi Strauss Following Q4 Results

Author: Avi Kapoor | January 26, 2024 12:58pm

Levi Strauss & Co (NYSE:LEVI) reported upbeat earnings for its fourth quarter on Thursday.

Levi said fourth-quarter revenue increased 3% year-over-year to $1.64 billion, which missed the consensus estimate of $1.66 billion, according to Benzinga Pro. The company reported quarterly earnings of 44 cents per share, which beat analyst estimates of 43 cents per share.

“Looking forward, we are focused on margin execution supported by gross margin expansion and by our global productivity initiative, which gives us clear line of sight to significant annual cost savings,” said Harmit Singh, CFO and chief growth officer of Levi.

Levi said it expects full-year 2024 revenue growth of 1% to 3%. The company guided for full-year 2024 adjusted earnings of $1.15 to $1.25 per share versus estimates of $1.33 per share.

Levi shares fell 1.4% to trade at $15.53 on Friday.

These analysts made changes to their price targets on Levi Strauss after the company reported quarterly results.

• Telsey Advisory Group raised the price target on Levi Strauss from $16 to $18. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating.
• Wells Fargo cut Levi Strauss price target from $18 to $17. Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating.
• JP Morgan lowered the price target on Levi Strauss from $16 to $15. JP Morgan analyst Matthew Boss maintained a Neutral rating.

 

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