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Fly News Breaks for September 25, 2019
LB
Sep 25, 2019 | 09:08 EDT
DA Davidson analyst John Morris keeps his Neutral rating and $20 price target on L Brands, saying the company's Victoria's Secret division continues to face headwinds. The analyst notes that the management's initiatives to regain momentum for the Victoria's Secret division is still a "work-in-progress" and believes that its previous messaging and assortments did not resonate with the consumer. Morris adds that his conference call yesterday reinforced his view that Victoria's Secret turnaround is pushed out to 2020.
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