• Raymond James set a $22 price target for Levi Strauss & Co. (NYSE: LEVI), representing a 12.8% upside from its $19.51 share price.
• Levi Strauss & Co. raised its full-year adjusted earnings forecast to $1.54–$1.56 per share, aided by tariff refunds, despite a lower net revenue growth outlook of 7%.
• The company's operating margin improved to 13.8% from 10.8% year-over-year, significantly boosted by tariff refunds.

Levi Strauss & Co. (NYSE: LEVI) is the stock of the clothing company best known for its jeans. On October 8, 2026, Rick Patel of Raymond James set a $22 price target for the stock. That was about 12.8% above its $19.51 share price when the target was posted.

A price target is an analyst’s estimate of where a stock could trade. Levi Strauss & Co.’s $19.51 share price was down $1.02, or 4.97%. The stock traded between $19.36 and $20.38 during the day, while its range over the past year was $17.72 to $25.70.

Levi Strauss & Co. raised its full-year adjusted earnings forecast to $1.54–$1.56 per share from $1.46–$1.52. Adjusted earnings per share measure profit after certain items are excluded. Tariff refunds helped lift the forecast, as highlighted by The Wall Street Journal.

The higher earnings forecast came with a lower sales outlook. Levi Strauss & Co. now expects net revenue to grow 7%, at the bottom of its previous 7%–7.5% range. In the fiscal third quarter, revenue rose 4% in the Americas but fell 1% in the U.S.

Levi Strauss & Co.’s operating margin rose to 13.8% from 10.8% a year earlier. This margin shows how much of each sales dollar remains after operating costs; tariff refunds added 4.9 percentage points to the latest figure. Shares were roughly flat in extended trading after initially rising, as highlighted by CNBC.