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LB

L Brands

$31.63

-0.39 (-1.22%)

09:37
08/09/18
08/09
09:37
08/09/18
09:37

Loop Capital keeps Sell rating on L Brands after July update

Loop Capital analyst Laura Champine said L Brands' flat same-store sales growth missed consensus estimates in July and did so with weaker merchandise margins. She also noted that Victoria's Secret reported a 4% same-store sales decline despite heavy promotions. The analyst, who is concerned that Victoria's Secret's marketing, size limits, price range, and aesthetics are out of touch with changing consumer preferences, keeps a Sell rating and $27 price target on L Brands shares.

LB L Brands
$31.63

-0.39 (-1.22%)

07/25/18
JEFF
07/25/18
NO CHANGE
Target $23
JEFF
Underperform
L Brands bondholders 'slowly waking up to the reality,' says Jefferies
The credit default swaps of L Brands (LB) are rising since late May as new data points "have confirmed" the company's "monopoly is under assault," Jefferies analyst Randal Konik tells investors in a research note. Bondholders are "slowly waking up to the reality" that Victoria's Secret is "broken," PINK is "breaking," and Bed Bath & Beyond is "peaking," Konik adds. He believes rising CDS and falling bond prices indicate L Brands' debt "may lose its reputation as a complacent long." The analyst continues to believe American Eagle's (AEO) Aerie's market share gains have been a key driver of PINK's deterioration. He reiterates an Underperform rating on L Brands with a $23 price target.
07/25/18
JEFF
07/25/18
NO CHANGE
Target $33
JEFF
Buy
Jefferies sees Aerie hitting $2B-$3B in sales, ups American Eagle target
American Eagle's (AEO) Aerie has the potential to be a greater than $1.5B brand over the next few years and research $2B-$3B in revenue over the long term, Jefferies analyst Janine Stichter tells investors in a research note. The analyst sees Aerie reaching 30% of American Eagle revenue in the next few years and 40% longer term. This will help drive American Eagle shares higher while adding pressure to L Brands (LB), Stichter contends. She believes recent American Eagle management commentary suggests increasing confidence in the Aerie concept. The analyst raised her price target for the shares to $33 from $30 and reiterates a Buy rating on the name.
07/24/18
LOOP
07/24/18
NO CHANGE
Target $27
LOOP
Buy
American Eagle shares inexpensive at current levels, says Loop Capital
After touring the new format of the Aerie store, Loop Capital analyst Laura Champine reiterates a Buy rating on American Eagle Outfitters (AEO) with a $27 price target. The Aerie brand, which has now comped positive 20% or better for three consecutive years, seems to be continuing its momentum as it takes share from L Brands' (LB) Victoria Secret's and Pink brand, Champine tells investors in a research note. The analyst feels owning American Eagle shares this year makes sense as the company is likely to be one of the few retailers to show margin expansion and high-single digit same-store-sales growth. She believes the stock is inexpensive at current levels.
07/13/18
MSCO
07/13/18
NO CHANGE
MSCO
Overweight
Morgan Stanley says L Brands report 'disappointing' given Victoria's Secret miss
Morgan Stanley analyst Kimberly Greenberger noted that L Brands' June comparable sales increase of 3% was in-line with her expectations and the consensus forecast, but that Victoria's Secret "significantly disappointed" with 1% June comp decrease that was below her estimate for a 4% increase and below the Street's forecast for the brand's sales to be up 3%. While stating that numbers should get "less bad" over the next six months, Greenberger still struggles to find a positive catalyst for the stock. Still, she maintains an Overweight rating on L Brands shares given what she views as "very attractive" risk/reward balance.

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BSX

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$36.55

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HUSA

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VTVT

vTv Therapeutics

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GLMD

Galmed

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MDGL

Madrigal Pharmaceuticals

$114.69

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VKTX

Viking Therapeutics

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Cott Corp.

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NEOS

Neos Therapeutics

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ICPT

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ISBC

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