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We've been following Levi Strauss (NYSE:LEVI) for a while looking for a good entry price, and we believe shares are getting close. While not as cheap as it got during the depths of the Covid
After Share Price Correction, Levi Strauss Is Now A Strong Buy
Summary
- We believe shares of Levi are now in 'Strong Buy' territory, with a very compelling valuation and the impacts from the Covid crisis mostly behind.
- LEVI stock looks attractive at a ~11x forward price/earnings ratio, and a dividend yield approaching 2%.
- Levi Strauss is also repurchasing shares and doing strategic acquisitions like that of Beyond Yoga.
- Profit margins and the balance sheet are strong, and Levi is guiding for high revenue growth for fiscal year 2022.
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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in LEVI over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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