The firm gave its top ideas for riding the Wild West trend.
A renaissance in Western styles can boost stocks that specialize in denim, according to TD Cowen. Analyst Oliver Chen hailed the jean-fabric category as a strong performer that should be able to keep up momentum through at least the end of 2024. While positive on stocks across the space, he specifically pointed to Boot Barn , Levi Strauss and Ralph Lauren as key plays on the trend.
Meanwhile, the analyst said Levi Strauss' direct-to-consumer premiumization efforts are something investors should watch. The company's jeans line was referenced in the "Cowboy Carter" song "Levii's Jeans," which management previously said underscored the brand's position in culture. Both stocks have outperformed the market in 2024, with Ralph Lauren adding around 16% and Levi Strauss surging about 36%. But Wall Street diverges on what to expect next.
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