Jefferies analyst Randal Konik says his five-plus years of candle promotion data at Bath & Body Works show that candle prices are plateauing, and pricing gains, which he notes have been supporting the comp, are waning. This is key because candles have likely driven disproportionate revenue growth, Konik tells investors in a research note. With the data showing L Brands' candle strength and comp benefit has "passed peak," Bath & Body Works' fundamentals "will begin to falter," contends the analyst. Konik, who also believes Victoria's Secret and PINK "are broken," continues to recommend selling shares of L Brands with an Underperform rating and $14 price target.