** Levi Strauss LEVI.N jumps 11% premarket; had closed 2.8% lower on Monday amid global market rout
** Co beats Q1 profit estimates; reaffirms annual sales, profit outlook
** Says its forecast doesn't include impact from recently-announced tariffs
** Expects new tariffs to have material impact on FY25 results
** Adds it will have to look at "surgical" price hikes to mitigate tariff impact
** Barclays says, "LEVI's Q1 checked all of the boxes we were looking for, with continued acceleration in organic sales"
** Sees significant gross margin expansion on full-priced sales
** Adds, "Tariffs will dictate where the stock goes, but we think LEVI is well positioned"
** Trims PT to $18 from $22; retains "overweight"
** Stock down ~22% this year, as of Monday's close
(Reporting by Ananya Mariam Rajesh in Bengaluru)
((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.