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LB

L Brands

$26.69

0.28 (1.06%)

11:30
02/11/19
02/11
11:30
02/11/19
11:30

Far downside put buyer in L Brands

Far downside put buyer in L Brands. The stock up 31c to $26.72 and 5K Mar 22.5s print 44c when bid-ask was 35 to 45c. The put buy opens a position struck 15.7% below spot and hedges one earnings report on 2/27.

LB L Brands
$26.69

0.28 (1.06%)

01/02/19
WELS
01/02/19
NO CHANGE
Target $50
WELS
Outperform
L Brands price target lowered to $50 from $55 at Wells Fargo
Wells Fargo analyst Ike Boruchow lowered his price target for L Brands to $50 from $55, while reiterating an Outperform rating on the shares. In a research note titled "2019 Retail Outlook report," the analyst says he believes Holiday reads likely slowed post Black Friday, Multinational brands struggled relative to retailers the past several months as concerns around Europe weakness, China uncertainty, a slowdown in tourism and FX pressures are growing, e-commerce meaningfully underperformed Brick and Mortar retail in 2018 as inflated multiples have been hit hard in the face of a painful tech ''unwind'' and choppier fundamentals, 2019 is likely to be worse than 2018 for the space, and Leases are coming onto retailers' balance sheets in 2019, making for worse capital structure optics.
01/02/19
JEFF
01/02/19
NO CHANGE
JEFF
Buy Gap, sell L Brands are Jefferies' best Consumer ideas for 2019
In the Consumer space, Jefferies analyst Randal Konik says his best ideas for 2019 are buying Gap (GPS) and selling L Brands (LB). The analyst recommends using the late 2018 selloff as an opportunity to get long consumer names for 2019. His other top Buy ideas are American Eagle (AEO), Boot Barn (BOOT), Capri Holdings (CPRI), Five Below (FIVE), Foot Locker (FL), Fox Factory (FOXF), Acushnet Holdings (GOLF), Kohl's (KSS), Manchester United (MANU), Ollie's Bargain Outlet (OLLI), Tiffany (TIF), Urban Outfitters (URBN), Under Armour (UAA) and Yeti (YETI). On L Brands, Konik continues to believe Victoria's Secret "is broken," Pink "is a fad" that's sales will get cut in half, and Bath & Body Works is at a "cyclical peak with daunting compares ahead." On the flip side, the analyst thinks Gap will be one of the top S&P 500 stocks in 2019. He recommends "aggressively" buying the shares at current levels.
01/10/19
LOOP
01/10/19
NO CHANGE
Target $23
LOOP
Sell
L Brands price target cut to $23 at Loop Capital on December sales results
Loop Capital analyst Laura Champine maintained a Sell rating on L Brands but lowered her price target to $23 from $24 following the retailer's "poor" sales results for December, noting that Victoria's Secret sales fell 6% on top of a 1% decline in the year ago period. In a research note to investors, Champine says she expects consensus estimates for fiscal 2019 to move lower as the turnaround for the lingerie brands is again pushed out.
01/14/19
DADA
01/14/19
NO CHANGE
Target $32
DADA
Neutral
L Brands' BBW segment remained 'shining star', says DA Davidson
DA Davidson analyst John Morris kept his Neutral rating and $32 price target on L Brands after its updated Q4 outlook following the company's Holiday season sales results toward the higher end of its forecasted range. The analyst notes that while the comps were flat due to the calendar shift from the 53rd week last year, L Brands' Bath & Body Works segment was the "shining star in December" with an 11% rise in comps vs. the Street view of up 7.9%. Morris further states that the company's "continued channel mix shifts and higher supply chain costs" offset a lower promotional activity, adding that he intends to monitor the underperforming Victoria's Secret division.

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