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Fly News Breaks for April 20, 2016
LB
Apr 20, 2016 | 06:33 EDT
Citi analyst Paul Lejuez says that despite his positive bias longer term, the timing is not right to buy shares of L Brands. The company's strategic actions, including the exit of swim, apparel and eliminating the Victoria Secret catalog, may keep the stock from going higher near term, Lejuez tells investors in a research note. The analyst lowered his price target for L Brands to $82 from $90 and keeps a Neutral rating on the shares.
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