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Fly News Breaks for March 8, 2018
LB
Mar 8, 2018 | 16:43 EDT
Loop Capital analyst Laura Champine initiated L Brands with a Hold rating and a price target of $45. Champine says the company's FY18 outlook was well below expectations, and the 27% year-to-date slide in the stock price already reflects this soft outlook The analyst notes that she is modeling another EBIT margin decline this year of about 140bps while also voicing concerns with uncompetitive pricing at Victoria's Secret, urging investors to remain on the sidelines until VS segment shows some improvement.
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