Levi Strauss Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Levi Strauss & Co. (NYSE:LEVI) reported first-quarter earnings of 26 cents per share, surpassing the analyst consensus estimate of 21 cents. Quarterly sales were $1.558 billion, exceeding estimates and marking a 7.76% decrease from the previous year. The company raised its 2024 earnings guidance from $1.15-$1.25 per share to $1.17-$1.27, against an estimate of $1.21. Following the announcement, Levi Strauss shares surged 18% to $22.01. Analysts from Telsey Advisory Group, TD Cowen, Wells Fargo, and UBS adjusted their price targets upwards.
April 04, 2024 | 5:51 pm
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POSITIVE IMPACT
Levi Strauss reported higher than expected Q1 earnings and raised its 2024 earnings guidance, leading to an 18% increase in its stock price. Analysts have raised their price targets.
The positive earnings report and raised guidance for 2024 indicate strong financial health and growth prospects for Levi Strauss, which has led to increased investor confidence and a significant stock price increase. The upward adjustments in price targets by analysts further support the positive outlook for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100