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LB

L Brands

$19.33

-0.72 (-3.59%)

06:12
08/23/19
08/23
06:12
08/23/19
06:12

L Brands downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analsyt Kate Fitzsimons downgraded L Brands to Sector Perform from Outperform and cut her price target to $22 from $30. The analyst thinks Victoria's Secret product and marketing efforts into second half 2019 will take longer tin inflect the business than outlined by management's 2019 outlook. Further, Fitzsimons questions Victoria's Secret and Pink brand's positioning in a more body-positive environment and said 20%+ margins likely peaked given rising expense pressures on the business.

  • 23

    Sep

  • 21

    Nov

LB L Brands
$19.33

-0.72 (-3.59%)

07/15/19
07/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Teva (TEVA) and Endo (ENDP) downgraded to Underweight from Equal Weight at Morgan Stanley. 2. Marriott (MAR) downgraded to Neutral from Buy at Longbow with analyst Alton Stump citing valuation. 3. General Electric (GE) downgraded to Neutral from Buy at UBS with analyst Damian Karas saying that a "notable" decline in interest rates and the continued weakness in the power market combine toward a "more balanced" upside with downside. 4. WageWorks (WAGE) downgraded to Hold from Buy at Stifel with analyst David Grossman saying he does not envision a competing takeover offer for the company. 5. L Brands (LB) downgraded to Neutral from Buy at Citi with analyst Paul Lejuez saying his former view on the stock was based on the belief that a Victoria's Secret turnaround could be successful if the brand adopted a more inclusive approach. However, with management slow to implement meaningful change, and "cultural norms shifting away from them," it may be "too little too late" for a meaningful turnaround at Victoria's Secret. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/29/19
JEFF
07/29/19
NO CHANGE
JEFF
L Brands PINK brand 'fading fast,' says Jefferies
Jefferies analyst Randal Konik maintained a Sell rating and $16 price target on L Brands, noting that he has tracked bra prices across Victoria's Secret and PINK over the past decade, and believes the data shows that the PINK brand is fading fast. Konik said that PINK is using "step discounts to try to spur demand," and noted that PINK makes up about 40% of Victoria Secret sales with $3B in sales. The analyst sees more downside in PINK than the Street anticipates, and he believes it will put pressure on L Brands' EPS over the next two years.
08/22/19
LOOP
08/22/19
NO CHANGE
Target $15
LOOP
Sell
L Brands price target lowered to $15 from $20 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target on L Brands shares to $15 from $20 and keeps a Sell rating on the stock after the company's Q2 earnings report.
08/22/19
JEFF
08/22/19
NO CHANGE
Target $16
JEFF
Underperform
L Brands downside to $10 'most likely' case, says Jefferies
Jefferies analyst Randal Konik said he believes problems at Victoria's Secret are brand and competition related, not product related as L Brands contends, while the brand and Bath and Body Works are both "overstored" in his view. The analyst, who thinks Victoria's Secret is "broken," PINK is "broken" and Bath and Body has "peaked," keeps an Underperform rating on L Brands shares with a $16 price target, though he added that he thinks his downside case for the shares falling to $10 is now "most likely."

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