These Analysts Slash Price Targets On Levi Strauss Following Lowered Forecast, Shares Drop

Levi Strauss & Co LEVI reported upbeat earnings for its third quarter on Thursday, but lowered its full-year profit view.

Levi Strauss reported third-quarter FY22 revenue growth of 1.3% year-over-year to $1.52 billion, +7% on a constant-currency basis, missing the consensus of $1.60 billion. Adjusted EPS was $0.40, beating the consensus of $0.37.

It also lowered FY22 EPS guidance to $1.44 - $1.49 from $1.50 - $1.56 against an estimate of $1.54.

Levi Strauss shares fell 5.5% to $15.05 in pre-market trading.

These analysts made changes to their price targets on Levi Strauss following the release of quarterly results.

• Telsey Advisory Group lowered price target on the stock from $30 to $24. Telsey Advisory Group analyst Dana Telsey maintained the stock with an Outperform.
• Wells Fargo cut Levi Strauss price target from $22 to $19. Wells Fargo analyst Ike Boruchow maintained the stock with an Overweight.
• Guggenheim cut the price target on Levi Strauss from $33 to $27. Guggenheim analyst Robert Drbul maintained a Buy rating on the stock.