- Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Levi Strauss & Co (NYSE:LEVI) and a price target of $24 following the announcement of first-quarter FY23 results.
- The analyst believes in the company's strong operating model, which benefits from strong DTC and international business, while macroeconomic challenges turn favorable in the second half of FY23 and support growth momentum.
- The analyst expects guidance on margins and revenue details by geographies from the conference call. Its estimates and price target are presently under review.
- Earlier, LEVI provided an outlook for revenue growth in the Americas and Europe (excluding Russia) in the low-single digit range and Asia in mid-single digits range. The company has previously anticipated first-half revenues to be down low-single digit to mid-single digits range due to challenging macroeconomic environment, while second-half revenue growth to be in high-single digit range.
- Also Read: Why Levi Strauss Stock Is Falling Today
- Price Action: LEVI shares are trading lower by 14.39% at $15.44 on the last check Thursday.
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Levi Strauss' Strong Business Model To Drive Growth In 2023, Says Analyst
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