Levi Strauss price target lowered to $21 from $22 at BofA

BofA analyst Christopher Nardone lowered the firm’s price target on Levi Strauss (LEVI) to $21 from $22 and keeps a Neutral rating on the shares. The brand’s “strong momentum” in DTC is offset by the lack of a near-term margin catalysts, says the analyst, who forecasts Q4 EPS of 47c and 5% sales growth. Read-throughs from U.S. peers suggest that denim was a strong category this holiday season, which should allow Levi to “at least meet” its Q4 guidance, the analyst added in a preview.