Citi raised the firm’s price target on Levi Strauss (LEVI) to $19 from $14 and keeps a Neutral rating on the shares after the company announced that they have reached an agreement to sell Dockers to Authentic Brands Group for $311M and up to an additional $80M if an earnout provision is met. The sale of Dockers was “expected, but a positive,” says the analyst, who adds that the sale price “seems reasonable.”
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