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Fly News Breaks for May 15, 2019
LB
May 15, 2019 | 08:12 EDT
Loop Capital analyst Laura Champine lowered her price target on L Brands to $20 and kept her Sell rating ahead of her expected "disappointing" Q1, with zero expected earnings and a 4% decline in stores. The analyst also lowers her FY19 and FY20 EPS view by 19c and 33c to $2.18 and $2.08, noting that the updated product line for Victoria's Secret under new management is not expected until the end of 2019. Champine expects the VS brand continuing to drag on the company's overall results and sees no other short-term catalysts to improve performance at L Brands.
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