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LB

L Brands

$26.66

-1.23 (-4.41%)

13:05
03/22/19
03/22
13:05
03/22/19
13:05

L Brands call volume above normal and directionally bullish

Bullish option flow detected in L Brands with 3,433 calls trading, 1.3x expected, and implied vol increasing almost 4 points to 38.17%. May-19 27.5 calls and Aug-19 27.5 puts are the most active options, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 0.62. Earnings are expected on May 22nd.

  • 16

    May

  • 23

    May

LB L Brands
$26.66

-1.23 (-4.41%)

03/01/19
03/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Hertz (HTZ) upgraded to Equal Weight from Underweight at Barclays with analyst Brian Johnson saying strength in used car and rental car prices creates a favorable backdrop for Hertz to refinance its corporate debt. 2. L Brands (LB) upgraded to Overweight from Equal Weight at Barclays with analyst Chethan Mallela saying the company's fiscal 2019 guidance should establish an earnings "floor," which creates an "increasingly positive" risk/reward for the shares. 3. Kraft Heinz (KHC) upgraded to Hold from Sell at Societe Generale. 4. Edison International (EIX) upgraded to Neutral from Underperform at BofA/Merrill with analyst Julien Dumoulin-Smith saying he sees progress by the California legislature to address utilities' current status of "insurer of last resort," potentially allowing a recovery in Edison shares. 5. Expedia (EXPE) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's "strong" Q4 results, anticipated 10%-15% adjusted EBITDA growth in 2019, the management's optimism about continued international expansion, and its attractive valuation at 17.9-times his expected forward earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/01/19
03/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. L Brands (LB) downgraded to Market Perform from Outperform at Bernstein with analyst Jamie Merriman saying her Outperform rating was based on a view that investors were paying for Bath & Body Works with a free option on Victoria's Secret. 2. American Airlines (AAL) and Delta Air Lines (DAL) downgraded to Hold from Buy at Deutsche Bank. 3. Devon Energy (DVN) downgraded to Sector Perform from Outperform at RBC Capital. 4. O'Reilly Automotive (ORLY) downgraded to Neutral from Overweight at Atlantic Equities with analyst Sam Hudson citing valuation and raised his price target to $400 from $370. 5. Maxar Technologies (MAXR) downgraded to Hold from Speculative Buy at TD Securities and to Underperformer from Neutral at CIBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/19
LEHM
03/06/19
NO CHANGE
Target $31
LEHM
Overweight
L Brands separation not best path to shareholder value, says Barclays
After Barington Capital suggested L Brands consider a potential spin-off of Victoria's Secret or an initial public offering of Bath & Body Works, Barclays analyst Chethan Mallela says he does not think a separation is the best path to achieve value creation for shareholders. The analyst, however, continues to view L Brands as undervalued and sees "ample opportunity for value creation." His sum-of-the-parts analysis suggests a possible multiple arbitrage benefit, but with potentially "sizeable risk." Even "without aggressive multiples," he calculates a potential sum-of-the-parts range of $26-$36 per share. However, Mallela believes a separation comes with "significant transaction risk." He sees a combined L Brands as better positioned for value creation. The analyst keeps an Overweight rating on the name with a $31 price target.
03/20/19
JEFF
03/20/19
NO CHANGE
Target $16
JEFF
Underperform
Jefferies says sell L Brands 'aggressively' after analysis shows elevated promos
Jefferies analyst Randal Konik says his updated analysis of Victoria's Secret and Pink discounts shows elevated promotion levels "that indicate share loss is mounting." Victoria's Secret panty prices are at record lows, bringing back swim is not the answer, and key products are continuing to be promoted, Konik tells investors in a research note. The analyst's estimates for L Brands remain below consensus and he continues to believe Victoria's Secret and Pink will continue to erode while Bath & Body Works "is rolling over." Konik would "sell shares aggressively" and keeps an Underperform rating on L Brands with a $16 price target.

TODAY'S FREE FLY STORIES

CME

CME Group

$207.10

1.35 (0.66%)

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ICE

IntercontinentalExchange

$91.87

1.04 (1.15%)

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NDAQ

Nasdaq

$99.21

-0.3 (-0.30%)

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CBOE

Cboe Global Markets

$111.07

0.21 (0.19%)

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BBCP

Concrete Pumping

$4.33

0.195 (4.72%)

16:10
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Earnings
Concrete Pumping sees FY19 revenue $284M, consensus 292.54M »

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  • 16

    Sep

BBCP

Concrete Pumping

$4.33

0.195 (4.72%)

16:07
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Earnings
Concrete Pumping reports Q3 EPS 5c, consensus 7c »

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  • 16

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MRVL

Marvell

$25.42

-0.43 (-1.66%)

16:07
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Hot Stocks
Marvell's Gaynor sells 35,000 common shares »

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EAST

Eastside Distilling

$4.99

-0.01 (-0.20%)

16:07
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Eastside Distilling acquires Azunia Tequila in all-stock transaction »

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LNG

Cheniere Energy

$65.71

0.21 (0.32%)

, EOG

EOG Resources

$85.61

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Cheniere Energy, EOG Resources announce gas supply agreements »

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Cheniere Energy

$65.71

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EOG Resources

$85.61

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UFPI

Universal Forest

$40.47

-0.66 (-1.60%)

16:06
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Hot Stocks
Universal Forest acquires Pallet USA »

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  • 24

    Oct

BJ

BJ's Wholesale

$26.81

-0.64 (-2.33%)

16:05
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16:05
Hot Stocks
BJ's Wholesale names Lee Delaney president »

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  • 24

    Sep

PSTV

Plus Therapeutics

$9.50

-0.06 (-0.63%)

16:05
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Syndicate
Breaking Syndicate news story on Plus Therapeutics »

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ACRS

Aclaris Therapeutics

$1.10

0.065 (6.31%)

16:00
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Hot Stocks
Breaking Hot Stocks news story on Aclaris Therapeutics »

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ETN

Eaton

$86.32

-1.15 (-1.31%)

15:54
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Hot Stocks
Eaton's Semeslberger sells 17,000 ordinary shares »

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CRS

Carpenter Technology

$55.59

0.45 (0.82%)

15:51
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Hot Stocks
Carpenter Technology director Steven Karol sells $275K in company shares »

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AMZN

Amazon.com

$1,806.42

-31.07 (-1.69%)

15:51
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Hot Stocks
Amazon says WSJ search results story is wrong »

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  • 27

    Oct

MUR

Murphy Oil

$25.21

4.62 (22.44%)

15:45
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Options
Murphy Oil call volume above normal and directionally bullish »

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PRU

Prudential

$89.11

-0.74 (-0.82%)

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  • 17

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  • 05

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GILD

Gilead

$65.80

-0.73 (-1.10%)

, GSK

GlaxoSmithKline

$40.64

-0.24 (-0.59%)

15:36
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Conference/Events
Piper Jaffray biotech analysts to hold an analyst/industry conference call »

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GILD

Gilead

$65.80

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GSK

GlaxoSmithKline

$40.64

-0.24 (-0.59%)

MRK

Merck

$81.90

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MYL

Mylan

$21.84

0.16 (0.74%)

TEVA

Teva

$8.09

0.15 (1.89%)

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  • 16

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AXSM

Axsome Therapeutics

$29.33

2.48 (9.24%)

15:30
09/16/19
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15:30
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15:30
Options
Ratio Put spread buyer in Axsome therapeutics as shares touch all-time highs »

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CPE

Callon Petroleum

$5.29

0.775 (17.18%)

15:25
09/16/19
09/16
15:25
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15:25
Options
Callon Petroleum call volume above normal and directionally bullish »

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  • 23

    Sep

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  • 02

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ARAY

Accuray

$3.08

0.05 (1.65%)

15:25
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Recommendations
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  • 16

    Sep

SPY

SPDR S&P 500 ETF Trust

$300.17

-0.9 (-0.30%)

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S&P 500

$0.00

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Periodicals
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$300.17

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$0.00

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DNOW

NOW Inc.

$12.79

0.51 (4.15%)

15:18
09/16/19
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Conference/Events
NOW Inc. management to meet with KeyBanc »

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  • 23

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YETI

Yeti

$29.16

-0.9 (-2.99%)

15:17
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Conference/Events
Yeti management to meet with KeyBanc »

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  • 19

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