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Fly News Breaks for July 19, 2017
LB
Jul 19, 2017 | 06:54 EDT
Jefferies analyst Randal Konik lowered his price target for L Brands to $32 from $35 and recommends selling the shares. Data driven analyses and new survey work show PINK is peaking, Konik tells investors in a research note. He believes consumers are increasingly finding the brand expensive and that purchase behavior is no longer accelerating. The analyst notes that PINK represents 40% of Victoria's Secret revenue. He keeps an Underperform rating on L Brands.
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