Levi Strauss raises annual outlook as strong denim sales lift shares

Shares of denim apparel maker Levi Strauss & Co LEVI.N rise 9.6% to $21.6 in premarket trading

Co boosted its annual sales and profit outlook, driven by robust denim demand and strength in its direct‑to‑consumer segment despite headwinds from U.S. tariffs

Co's Q1 net revenue jumps 14% to $1.74 bln, surpassing estimates of $1.65 bln, while adjusted earnings of 42 cents per share also beat forecasts

Barclays maintaining "overweight" rating on the stock says global brand growth will be driven by expansion into new geographies, a larger direct‑to‑consumer footprint and a broader “head‑to‑toe” lifestyle strategy, positioning Levi’s as a long‑term brand compounder

"Trends remain strong quarter to date and co has not seen any elasticity from tariff-driven price increases or recent gas price spikes", adds Jefferies

14 of 16 brokerages rate the stock "buy" or higher, 2 "hold"; their median PT is $27 - data compiled by LSEG

As of last day's close, the stock is down ~5% YTD