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LB

L Brands

$31.81

-1.56 (-4.67%)

09:13
12/10/18
12/10
09:13
12/10/18
09:13

L Brands shares have 50% downside left with promos picking up, says Jefferies

L Brands' Victoria's Secret and PINK increased promos this weekend with a "Buy 3 Get 3 Free" deal, Jefferies analyst Randal Konik tells investors in a research note. While a bull would say L Brands is clearing the deck for 2019, the promos show issues with traffic, pricing architecture and brand relevance, Konik contends. He believes investors are underestimating "just how impaired these brands are and thus how deep/long the issues will continue be." Further, the analyst sees promos beginning to accelerate at L Brands' Bath and Body Works brand, too. He remains a seller of the stock with "~50% downside left." The analyst keeps an Underperform rating on L Brands with a $21 price target.

LB L Brands
$31.81

-1.56 (-4.67%)

12/06/18
BARD
12/06/18
NO CHANGE
Target $37
BARD
Outperform
Bath & Body strength supports L Brands 'value case,' says Baird
In a research note titled "Bath & Body Works Is Saving Christmas," Baird analyst Mark Altschwager says L Brands' holiday season "got off to a strong start overall" with November comps ahead of expectations. Bath & Body Works fueled the momentum as Victoria's Secret results disappointed, Altschwager writes. Further, the analyst points out that while comps beat consensus, merchandise margins "below expectations" suggest growth was promotionally-driven. However, Altschwager thinks Bath & Body strength can "support the value case for shares" as a new Victoria's Secret turnaround plan builds in fiscal 2019. The analyst maintains an Outperform rating on L Brands with a $37 price target.
12/06/18
JEFF
12/06/18
NO CHANGE
Target $21
JEFF
Underperform
L Brands strength at Bath & Body 'great but won't last,' says Jefferies
Jefferies analyst Randal Konik said improvement in L Brands' November sales was driven by performance at Bath & Body Works along with "heavy promos" at Victoria's Secret. Despite "another strong report" for the Bath & Body, Konik believes the brand will likely decelerate into 2019. He also views Victoria's Secret as "still broken" and noted that PINK comps were down despite heavy promotions, which he sees suggesting that the brand "has deeper issues than appreciated by the Street." Konik reiterates his Underperform rating and $21 price target on L Brands shares.
11/26/18
BFIN
11/26/18
NO CHANGE
BFIN
L Brands mentioned positively at BlueFin
11/26/18
KEYB
11/26/18
NO CHANGE
KEYB
Holiday season got off to healthy start, says KeyBanc
KeyBanc analyst Edward Yruma thinks the holiday shopping season got off to a healthy start as online continues to grab incremental share given the normalization of promotions across physical and digital channels. The analyst notes that traffic levels were stable across his store checks, and his initial observations point to the potential for a strong holiday season. Across his coverage, standouts include Walmart (WMT), Old Navy (GPS), and Urban Outfitters (URBN). Lululemon (LULU) had website difficulties when it launched its Black Friday promos on Thursday, he notes, while Gap and Victoria's Secret (LB) both seemed soft.

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