Stock Track | Levi Strauss Soars 6.75% After Bank of America Upgrade and Positive Analyst Outlook

Stock Track04-11

Shares of Levi Strauss & Co (NYSE:LEVI) surged 6.75% in Thursday's trading session, marking a significant turnaround from earlier declines in the apparel sector. The stock's impressive rally was primarily fueled by a notable upgrade from Bank of America and positive comments from prominent market commentator Jim Cramer.

Bank of America Securities raised its rating on Levi Strauss to "Buy" from "Neutral" and increased its price target to $20 from $17, citing several encouraging factors. The upgrade highlighted Levi's strong sales momentum, conservative revenue outlook, minimal exposure to China-related risks, and improving wholesale trajectory. Analysts at BofA emphasized that Levi is "checking a lot of positive boxes," including a diversified supply chain and a strong balance sheet.

Adding to the bullish sentiment, Jim Cramer, in his recent market commentary, expressed optimism about Levi Strauss despite broader retail headwinds. Cramer praised the company's resilient earnings, strong direct-to-consumer pivot, and upbeat analyst upgrades, suggesting it may be an overlooked opportunity in the retail sector. The combination of these positive factors appears to have outweighed earlier concerns about tariffs and inflationary pressures affecting apparel stocks, leading to the significant uptick in Levi's stock price.

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