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Cramer Really Likes Levi Strauss, Thinks Robinhood Investors Should Buy

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Cramer Really Likes Levi Strauss, Thinks Robinhood Investors Should Buy

Jim Cramer on Monday morning recommended buying Levi Strauss (NYSE: LEVI) during the "Stop Trading" segment on CNBC.

Cramer on Levi Strauss: Cramer believes Levi Strauss is coming back and mentioned the company’s strong earnings and the discussion he had with CEO Chip Bergh on Cramer’s “Mad Money” show last week.

“I like Levi Strauss. I think it should be bought,” Cramer said.

Cramer referred to Levi Strauss as a Robinhood stock, one that trades under $20. He encouraged people on the popular trading platform to buy the stock.

Levi Earnings: Last week, Levi Strauss reported third-quarter revenue of $1.06 billion, which came in ahead of consensus estimates of $822 million. Earnings per share of 8 cents for the quarter was ahead of an estimated loss of 22 cents per share.

Overall revenue declined 27% in the third quarter. E-commerce revenue saw year-over-year growth of 52% in the third quarter.

“We’re going to see e-commerce continue to grow. We’re profitable a year ahead of schedule, despite all of the accelerated investments that we’ve made,” Bergh said on “Mad Money.”

Bergh told viewers that seven of 10 shoppers on the Levi Strauss website in the third quarter were first-time shoppers to the site.

Cramer and Bergh discussed the growing theme of work from home casual workwear.

Levi Gets Upgrade: On Monday, Morgan Stanley upgraded shares of Levi Strauss from Equal-Weight to Overweight and raised the price target from $18 to $22.

Shares of Levi Strauss trading higher by 7% to $16.21 at publication time. The stock is down 21% in 2020.

 

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Posted-In: Chip Bergh CNBC e-commerce Jim Cramer Mad MoneyLong Ideas Media Trading Ideas