Levi Strauss gains after hiking forecasts on strong denim demand; brokerages raise PT

Shares of Levi Strauss & Co LEVI.N rise ~8% to $21.30 premarket

Co, after market close on Thursday, raised its annual revenue and profit forecasts after beating quarterly estimates

Co banks on strong denim demand in Europe despite tariff uncertainty; says forecast reflects current tariffs and stable economic outlook

Brokerage Citi says results demonstrate brand momentum, sees annual outlook to be conservative; raises PT to $22 from $19

Telsey Advisory Group says forecast raise "particularly encouraging" as it includes tariff impact, mitigation efforts; bumps up PT to $24 from $21

Says with more streamlined business following Docker’s sale, LEVI’s can now firmly focus on maintaining momentum in its core Levi’s brand and continue to build out Beyond Yoga

J.P.Morgan raises PT to $23 from $18; while BofA raises PT to $24 from $18

Average rating of 13 brokerages is "buy"; with a median PT of $24 - data compiled by LSEG

LEVI up 14% YTD, as of last close