Levi Strauss upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Matthew Boss upgraded Levi Strauss (LEVI) to Overweight from Neutral with a price target of $17, down from $19. The macro-driven 50% pullback over the trailing nine months provides an entry point, the analyst tells investors in a research note. Levi’s total-addressable-market expansion as a denim lifestyle apparel brand under CEO Michelle Gass has translated to accelerated global demand momentum for four straight quarters and new customer acquisition notably at the younger 18-30 year old customer demographic, the firm says.