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Fly News Breaks for April 13, 2018
LB
Apr 13, 2018 | 07:28 EDT
Nomura Instinet analyst Simeon Siegel lowered his price target for L Brands to $37 saying promotions are still needed to drive store traffic. The analyst remains concerned over peaking Bath & Body Works and PINK sales, coupled with ongoing margin risk at a "mall-heavy fleet." He notes that while Bath & Body showed strength and stabilization this month, Victoria's Secret disappointed. The analyst keeps a Neutral rating on L Brands.
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