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Fly News Breaks for August 23, 2019
LB
Aug 23, 2019 | 07:36 EDT
Bernstein analyst Jamie Merriman lowered her price target for L Brands to $21 from $30 and maintained a Market Perform rating. While the analyst sees meaningful upside in L Brands on a distributable cash flow basis, assuming that Bath & Body Works holds up and that Victoria's Secret stabilizes, she says many uncertainties are likely to continue and does not expect investors to give management the benefit of the doubt.
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