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LB

L Brands

$16.00

-1.19 (-6.92%)

16:33
11/20/19
11/20
16:33
11/20/19
16:33

L Brands reports Q3 SSS down 3% and comparable sales down 2%

Reports Q3: Victoria's Secret SSS down 8% and comparable sales down 7%; Bath & Body Works SSS up 9% and comparable sales up 5%.

  • 21

    Nov

  • 05

    Dec

LB L Brands
$16.00

-1.19 (-6.92%)

11/11/19
DBAB
11/11/19
DOWNGRADE
Target $20
DBAB
Hold
L Brands downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Paul Trussell downgraded L Brands to Hold from Buy with a price target of $20, down from $31. The analyst's monthly promo watch indicates promotions remain at elevated levels. He believes most investors are cautious on Retailers heading into the Holiday, despite a generally healthy U.S. consumer, given a shorter window between Thanksgiving and Christmas as well as concerns around the promotional environment leading to bloated inventories. The analyst also lowered his price target for Sell-rated Macy's (M) to $32 from $36 and for Hold-rated Dillard's (DDS) to $22 from $23.
11/11/19
11/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst James Faucette saying the stock is up 33% since August as Qualcomm's multiple has expanded relative to other semiconductor companies, which he attributes to the market assigning a high probability of a China-U.S. trade agreement, investors becoming more comfortable in a view that the FTC case won't materially impact the company's business, and expectations for the coming of 5G. 2. Lumentum (LITE) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Meta Marshall saying operating margins have improved 300-400 basis points year-over-year since the Oclaro transaction closed and 3D sensing inventory correction issues that disrupted the trajectory last year did not repeat this year. 3. Cisco (CSCO) downgraded to Neutral from Overweight at Piper Jaffray with analyst James Fish citing a slowing macro environment across Enterprise and Service Provider, cycles hitting a peak earlier this year, a lack of a near-term catalyst, and risk to fiscal 2020 and 2021 estimates for the downgrade. 4. L Brands (LB) downgraded to Hold from Buy at Deutsche Bank with analyst Paul Trussell saying his monthly promo watch indicates promotions remain at elevated levels. 5. Expedia (EXPE) downgraded to Perform from Outperform at Oppenheimer with analyst Jed Kelly citing accelerating paid marketing, ADR pressures and Vrbo losing domestic share, all creating a tougher dynamic to sustain double-digit EBITDA growth than previously thought. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/12/19
LEHM
11/12/19
INITIATION
Target $16
LEHM
Underweight
L Brands initiated with an Underweight at Barclays
Barclays analyst Adrienne Yih initiated coverage of L Brands with an Underweight rating and $16 price target. The analyst cites the company's continued challenge in turning around the VS and PINK brands, its ongoing negative comps, and its inventory growth outpacing sales demand.
11/18/19
WEDB
11/18/19
NO CHANGE
Target $16
WEDB
Neutral
L Brands price target lowered to $16 from $20 at Wedbush
Wedbush analyst Jen Redding lowered her price target for L Brands to $16 from $20 ahead of the company's Q3 results on November 20, saying she sees downside to consensus estimates. Redding tells investors in a research note that her firm's data shows steep increases in markdown rates as likely driving sales, particularly at core Victoria's Secret, where margin weakness is more than offsetting strength in revenues at Bath & Body Works.

TODAY'S FREE FLY STORIES

BXMT

Blackstone Mortgage

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0.03 (0.08%)

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MGM

MGM Resorts

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ROAD

Construction Partners

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  • 10

    Dec

MIK

Michaels

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FB

Facebook

$199.35

0.65 (0.33%)

, AMZN

Amazon.com

$1,740.59

-20.61 (-1.17%)

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FB

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0.65 (0.33%)

AMZN

Amazon.com

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  • 09

    Dec

SSDOY

Shiseido

$0.00

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TSM

TSMC

$54.35

1.18 (2.22%)

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HCA

HCA Healthcare

$140.63

0.02 (0.01%)

, ANTM

Anthem

$286.31

-0.945 (-0.33%)

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Upgrade
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HCA

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ANTM

Anthem

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KAOOY

Kao

$0.00

(0.00%)

06:17
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AUO

AU Optronics

$0.00

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AU Optronics loses orders for Motorola foldable Razr OLEDs, DigiTimes reports »

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TSM

TSMC

$54.35

1.18 (2.22%)

, QCOM

Qualcomm

$82.57

0.49 (0.60%)

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TSM

TSMC

$54.35

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QCOM

Qualcomm

$82.57

0.49 (0.60%)

SSNLF

Samsung

$0.00

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  • 05

    Feb

ULTA

Ulta Beauty

$236.09

-3.27 (-1.37%)

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  • 12

    Mar

FB

Facebook

$199.35

0.65 (0.33%)

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Former Facebook moderator sues company over PTSD claims, BI reports »

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  • 09

    Dec

CRWD

Crowdstrike

$53.00

-2.04 (-3.71%)

06:13
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  • 12

    Dec

DOCU

DocuSign

$69.51

-0.465 (-0.66%)

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  • 09

    Dec

  • 16

    Dec

TTD

Trade Desk

$240.27

-3.86 (-1.58%)

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ECA

Encana

$3.93

-0.135 (-3.32%)

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GOOGL

Alphabet Class A

$1,327.81

8.82 (0.67%)

, GOOG

Alphabet

$1,329.00

7.54 (0.57%)

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Alphabet Class A

$1,327.81

8.82 (0.67%)

GOOG

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  • 09

    Dec

TIF

Tiffany

$133.44

-0.23 (-0.17%)

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HUYA

Huya

$18.72

0.05 (0.27%)

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Huya CFO Henry Sha to depart company, Catherine Liu succeeds »

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CNTG

Centogene

$10.66

-1.54 (-12.62%)

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HOFT

Hooker Furniture

$23.77

0.17 (0.72%)

06:07
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Hooker Furniture CEO expects earnings to 'improve' in Q4 »

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  • 06

    Dec

CDEV

Centennial Resource Development

$3.41

0.06 (1.79%)

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HOFT

Hooker Furniture

$23.77

0.17 (0.72%)

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  • 06

    Dec

GOOG

Alphabet

$1,329.00

7.54 (0.57%)

, GOOGL

Alphabet Class A

$1,327.81

8.82 (0.67%)

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GOOG

Alphabet

$1,329.00

7.54 (0.57%)

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Alphabet Class A

$1,327.81

8.82 (0.67%)

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  • 09

    Dec

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