Levi Strauss price target lowered to $17 from $22 at TD Cowen

TD Cowen lowered the firm’s price target on Levi Strauss (LEVI) to $17 from $22 and keeps a Buy rating on the shares. After the company reported “solid” 9% organic growth across segments in Q1, the firm believes the company needs to be more agile with inventory management and supply chain to increase turns. However, the firm also notes that Levi is engaged in simplifying Stock Keeping Units and product lines, which it says “bodes well for margins and inventory management.”