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Fly News Breaks for April 25, 2016
LB
Apr 25, 2016 | 07:16 EDT
As noted earlier, Stifel upgraded L Brands to Buy from Hold. The firm is upbeat about the company's new strategy for Victoria's Secret. It expects L Brands' sales to "be held back" in the near-term, but it thinks that cost cutting will compensate for any decline in the company's revenue. Stifel says that the company's fundamentals are "solid," while the recent decline in the stock was overdone. Target $90.
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