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Fly News Breaks for May 14, 2018
LB
May 14, 2018 | 07:42 EDT
As previously reported, Citi analyst Paul Lejuez upgraded L Brands to Buy from Neutral, though he acknowledges this is "not an 'all's clear' type of call" and that things may get worse before they get better. However, he feels consensus sentiment has become so bearish and the stock's valuation is "just too cheap to ignore," he tells investors. He notes the dividend yield is now 7.4% and he believes the dividend is safe. Lejuez lowered his price target on L Brands shares, however, to $38 from $64.
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