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Fly News Breaks for May 6, 2016
LB
May 6, 2016 | 08:01 EDT
Oppenheimer analyst Anna Andreeva lowered her price target for L Brands to $75 from $90 due to weak April merchandise margins and as second half of 2016 compares get tougher. The analyst notes that the company's exit of categories and elimination of catalogs raise question marks around demand. Andreeva reiterates a Perform rating on the shares.
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