Loop Capital analyst Laura Champine lowered her price target on L Brands to $15 and kept her Sell rating after its Q2 results and below-consensus earnings guidance for Q3. The analyst notes that while the company affirmed its FY19 EPS guidance, she sees a "significant risk" to its ability to achieve that forecast without a "pronounced recovery" in its Victoria's Secret business. Champine adds that L Brands management sees low-single digit positive comps this year, but believes that SSS for FY19 will come in flat as profitability of Victoria's Secret continues to "plummet".