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LB

L Brands

$18.81

0.92 (5.14%)

08:15
09/11/19
09/11
08:15
09/11/19
08:15

L Brands price target lowered to $21 from $26 at MKM Partners

MKM Partners analyst Roxanne Meyer lowered her price target on L Brand to $21 and kept her Neutral rating after its Analyst Day, saying that the event did not focus on the company's holiday plans and visibility in its recovery remains low. The analyst is especially concerned about the visibility of business trajectory at Victoria's Secret, since its product changes are in the early innings and trends for August appear to have worsened. Meyer does acknowledge that the introduction of new leadership at VS and PINK gave the Street some "long-awaited insight" on the company's strategies to improve performance, but she also believes that the near-to-medium term product and marketing initiatives are not enough to move the needle on the stock.

  • 23

    Sep

  • 21

    Nov

LB L Brands
$18.81

0.92 (5.14%)

08/23/19
LOOP
08/23/19
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 to $15 and kept her Sell rating after its Q2 results and below-consensus earnings guidance for Q3. The analyst notes that while the company affirmed its FY19 EPS guidance, she sees a "significant risk" to its ability to achieve that forecast without a "pronounced recovery" in its Victoria's Secret business. Champine adds that L Brands management sees low-single digit positive comps this year, but believes that SSS for FY19 will come in flat as profitability of Victoria's Secret continues to "plummet".
08/23/19
DADA
08/23/19
NO CHANGE
Target $20
DADA
Neutral
L Brands price target lowered to $20 from $26 at DA Davidson
DA Davidson analyst John Morris lowered his price target on L Brands to $20 and kept his Neutral rating, saying that while the company posted a 4c earnings beat in Q2, it was driven by a lower tax rate. The analyst notes that the comps and gross margins were also lower than he expected, which underscores his view of 2019 being a "transition year" for L Brands' Victoria's Secret line. Morris adds that the management has acknowledged a higher degree of uncertainty around the pacing of the turnaround for the segment, but he also looks forward to see any evidence of changes in VS marketing and product initiatives starting with the Fall and Holiday floorsets.
08/23/19
08/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HP Inc. (HPQ) downgraded In Line at Evercore ISI. 2. Macy's (M) downgraded to Neutral from Buy at Guggenheim. 3. L Brands (LB) downgraded to Sector Perform from Outperform at RBC Capital with analyst Kate Fitzsimons saying she 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. 4. Triumph Group (TGI) downgraded to Underweight from Equal Weight at Barclays with analyst David Strauss saying he doesn't foresee meaningful free cash flow over the next several years, estimating annual free cash flow well below $100M through FY22. 5. Pool Corp. (POOL) downgraded to Neutral from Buy at Sidoti with analyst Anthony Lebiedzinski saying he sees limited upside to his $215 price target following the stock's 30% advance over the past 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/19
JEFF
09/09/19
NO CHANGE
Target $14
JEFF
Underperform
Jefferies keeps sell call on L Brands with candle prices plateauing
Jefferies analyst Randal Konik says his five-plus years of candle promotion data at Bath & Body Works show that candle prices are plateauing, and pricing gains, which he notes have been supporting the comp, are waning. This is key because candles have likely driven disproportionate revenue growth, Konik tells investors in a research note. With the data showing L Brands' candle strength and comp benefit has "passed peak," Bath & Body Works' fundamentals "will begin to falter," contends the analyst. Konik, who also believes Victoria's Secret and PINK "are broken," continues to recommend selling shares of L Brands with an Underperform rating and $14 price target.

TODAY'S FREE FLY STORIES

KHC

Kraft Heinz

$29.62

0.37 (1.27%)

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HMSY

HMS Holdings

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ICAD

iCAD

$6.89

-0.01 (-0.14%)

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GLW

Corning

$30.04

-0.12 (-0.40%)

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Corning down 5.5% or $1.64 at $28.40 per share after cutting volume outlook »

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WE

We Company

$0.00

(0.00%)

18:17
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We Company IPO delayed until October at earliest, WSJ reports »

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GLW

Corning

$30.04

-0.12 (-0.40%)

18:16
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WE

We Company

$0.00

(0.00%)

18:05
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Breaking Periodicals news story on We Company »

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GM

General Motors

$37.21

-1.62 (-4.17%)

18:02
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Periodicals
Auto workers strike could cost GM $100M daily, WSJ says »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:57
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17:57
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Hamilton Lane vice chairman sells 150K shares of common stock »

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  • 26

    Sep

17:52
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Conference/Events
SVB Leerink biotech analysts to hold analyst/industry conference call »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:52
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Hamilton Lane chairman sells 78.5K shares of common »

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  • 26

    Sep

GD

General Dynamics

$190.91

0.98 (0.52%)

, BAH

Booz Allen

$70.35

0.85 (1.22%)

17:44
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General Dynamics, Booz Allen and Parsons awarded $427M max Air Force contract »

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GD

General Dynamics

$190.91

0.98 (0.52%)

BAH

Booz Allen

$70.35

0.85 (1.22%)

PSN

Parsons

$37.25

0.35 (0.95%)

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  • 27

    Oct

T

AT&T

$37.32

-0.58 (-1.53%)

17:43
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09/16
17:43
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Periodicals
Suit claims AT&T told employees to make fake DirecTV accounts, Bloomberg says »

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  • 23

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UBER

Uber

$34.42

1.18 (3.55%)

, LYFT

Lyft

$47.78

1.68 (3.64%)

17:39
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17:39
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Periodicals
Uber to limit drivers' app access in NYC to comply with rules, Reuters says »

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Uber

$34.42

1.18 (3.55%)

LYFT

Lyft

$47.78

1.68 (3.64%)

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NEE

NextEra Energy

$218.31

-0.19 (-0.09%)

17:36
09/16/19
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17:36
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17:36
Conference/Events
NextEra Energy management to meet with UBS »

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NJR

New Jersey Resources

$44.80

-0.36 (-0.80%)

17:34
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New Jersey Resources formally appoints Steve Westhoven CEO »

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MEGEF

MEG Energy

$0.00

(0.00%)

17:34
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17:34
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Conference/Events
MEG Energy management to meet with UBS »

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  • 18

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KMI

Kinder Morgan

$20.67

0.2 (0.98%)

17:33
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Conference/Events
Kinder Morgan management to meet with UBS »

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  • 18

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DOW

Dow Inc.

$48.98

0.79 (1.64%)

17:31
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17:31
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17:31
Conference/Events
Dow Inc. management to meet with UBS »

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  • 18

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  • 24

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UBS healthcare analyst to hold an analyst/industry conference call »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

17:27
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Periodicals
Trump tax returns subpoenaed by Manhattan D.A. in late-August, NYT says »

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SPX

S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

SMH

Market Vectors Semiconductor

$121.04

-0.86 (-0.71%)

DIA

Diamonds Fund ETF

$271.24

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QQQ

Invesco QQQ Trust

$191.65

-0.94 (-0.49%)

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SLCA

U.S. Silica

$12.57

1.685 (15.48%)

17:20
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U.S. Silica's SandBox unit to appeal U.S. Patent Office decision »

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  • 13

    Nov

17:20
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Morgan Stanley steel analyst to hold an analyst/industry conference call »

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