Levi brings analysts optimism
Apr 15, 2019
Analysts and investment firms are rallying behind Levi Strauss & Co. for considering that the denim company has an enviable position in the worldwide market and stable footing. J.P. Morgan initiated coverage on Levi with an Overweight rating and a price target of $26 for December 2019. The firm stated that the combination of CEO Charles Bergh, a 28-year veteran, along with experienced management and the legacy of the brand gives Levi a competitive edge to expand to a global lifestyle brand. Telsey is also confident of Levi's performance, adding that the company has shown solid growth over the past seven years as the company has the highest brand recognition among denim companies.