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Fly News Breaks for August 23, 2019
LB
Aug 23, 2019 | 06:12 EDT
RBC Capital analsyt Kate Fitzsimons downgraded L Brands to Sector Perform from Outperform and cut her price target to $22 from $30. The analyst thinks Victoria's Secret product and marketing efforts into second half 2019 will take longer tin inflect the business than outlined by management's 2019 outlook. Further, Fitzsimons questions Victoria's Secret and Pink brand's positioning in a more body-positive environment and said 20%+ margins likely peaked given rising expense pressures on the business.
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