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.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEVI:
- Positive Outlook for Levi Strauss & Co. Driven by Strategic Focus and Brand Strength
- Levi Strauss price target raised to $20 from $18 at Barclays
- Home Depot backs outlook as U.S. sales ticked up: Morning Buzz
- Levi Strauss Drops Dockers to Focus on Core Brands
- Levi Strauss Sells Dockers Business to Authentic Brands
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue