LEVI - Levi's Continues To Be Best In Brand Despite Week Outlook Say Analysts | Benzinga
J.P. Morgan analyst Matthew Boss reiterated a Neutral rating on the shares of Levi Strauss & Co (NYSE:LEVI) and lowered the price target from $21 to $20.
LEVI reported second-quarter adjusted EPS of $0.16 with 11.2% gross profit dollar growth driving a 150 basis points EBIT margin beat versus consensus, noted the analyst.
The management reiterated FY24 adjusted EPS of $1.17 – $1.27 based on revenue growth at the midpoint of the +1-3% range.
The quarter’s +11% DTC growth c/c accelerated by 300 basis points sequentially vs. first quarter’s +8% c/c growth, including +12% DTC growth in the U.S. and +7% DTC growth c/c in Europe.
Hence, according to the analyst, the global DTC revenue accelerated with expanded total addressable market.
On ...