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LB

L Brands

$16.00

-1.19 (-6.92%)

16:46
11/20/19
11/20
16:46
11/20/19
16:46

L Brands backs FY19 free cash flow forecast at ~$750M

Cuts FY19 SSS view to "about flat to down slightly" from "up low single digits". Backs FY19 SG&A expense ratio of "about flat to 26.9% last year". Backs FY19 tax rate view of about 26%. Lowers FY19 CAPEX view to about $500M from $550M. Outlook taken from the company's investor slides accompanying Q3 earnings. Reference Link

  • 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

GM

General Motors

$35.54

0.23 (0.65%)

06:35
12/09/19
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06:35
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Avtovaz to buy out GM from Russia JV, Reuters reports »

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  • 07

    Jan

VMI

Valmont

$143.44

-0.45 (-0.31%)

06:35
12/09/19
12/09
06:35
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06:35
Conference/Events
Valmont management to meet with DA Davidson »

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  • 09

    Dec

  • 10

    Dec

OC

Owens Corning

$66.50

0.435 (0.66%)

06:34
12/09/19
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06:34
Hot Stocks
Owens Corning chairman Mike Thaman to retire, CEO Brian Chambers to succeed »

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MSFT

Microsoft

$151.77

1.85 (1.23%)

06:33
12/09/19
12/09
06:33
12/09/19
06:33
Periodicals
Microsoft's work on JEDI continues despite protest from Amazon, CNBC reports »

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  • 09

    Dec

FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

06:33
12/09/19
12/09
06:33
12/09/19
06:33
Upgrade
Wells Fargo upgrades Fate Therapeutics to Outperform after pipeline updates »

Wells Fargo analyst Jim…

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FB

Facebook

$200.99

1.64 (0.82%)

, WORK

Slack Technologies

$22.49

-0.265 (-1.16%)

06:30
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12/09
06:30
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06:30
Periodicals
Facebook co-founder Moskovitz looking at direct listing for Asana, FT reports »

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FB

Facebook

$200.99

1.64 (0.82%)

WORK

Slack Technologies

$22.49

-0.265 (-1.16%)

SPOT

Spotify

$148.09

1.67 (1.14%)

AIRB

Airbnb

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 09

    Dec

QRVO

Qorvo

$106.68

0.96 (0.91%)

, SWKS

Skyworks

$101.40

1.42 (1.42%)

06:29
12/09/19
12/09
06:29
12/09/19
06:29
Upgrade
Qorvo, Skyworks rating change  »

Skyworks, Qorvo…

QRVO

Qorvo

$106.68

0.96 (0.91%)

SWKS

Skyworks

$101.40

1.42 (1.42%)

03/08/13
Wedge Partners
03/08/13
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QRVO

Qorvo

$106.68

0.96 (0.91%)

06:28
12/09/19
12/09
06:28
12/09/19
06:28
Upgrade
Qorvo rating change  »

Qorvo upgraded to Buy…

03/08/13
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03/08/13
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CVX

Chevron

$117.98

1.68 (1.44%)

06:28
12/09/19
12/09
06:28
12/09/19
06:28
Downgrade
Chevron rating change  »

Citi downgrades Chevron…

03/08/13
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SWKS

Skyworks

$101.40

1.42 (1.42%)

06:28
12/09/19
12/09
06:28
12/09/19
06:28
Upgrade
Skyworks rating change  »

Skyworks upgraded to Buy…

03/08/13
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MO

Altria Group

$50.42

0.24 (0.48%)

, BTI

British American Tobacco

$39.33

0.36 (0.92%)

06:27
12/09/19
12/09
06:27
12/09/19
06:27
Hot Stocks
CDC raises estimate of lung injury cases associated with vaping to 2,291 »

The CDC on Friday…

MO

Altria Group

$50.42

0.24 (0.48%)

BTI

British American Tobacco

$39.33

0.36 (0.92%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$83.26

0.86 (1.04%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 30

    Jan

TSCDY

Tesco

$0.00

(0.00%)

06:22
12/09/19
12/09
06:22
12/09/19
06:22
Periodicals
Tesco considers selling Thailand, Malaysia supermarkets, WSJ reports »

Tesco is considering…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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ZG

Zillow

$40.72

-0.07 (-0.17%)

06:21
12/09/19
12/09
06:21
12/09/19
06:21
Initiation
Zillow initiated  »

Citi starts Zillow with…

03/08/13
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HUN

Huntsman

$22.83

0.49 (2.19%)

06:20
12/09/19
12/09
06:20
12/09/19
06:20
Upgrade
Huntsman rating change  »

Huntsman upgraded to Buy…

03/08/13
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03/08/13
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  • 12

    Dec

  • 13

    Dec

  • 18

    Dec

  • 19

    Dec

HD

Home Depot

$214.33

1.24 (0.58%)

06:17
12/09/19
12/09
06:17
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06:17
Recommendations
Home Depot analyst commentary  »

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  • 11

    Dec

  • 25

    Feb

ATNM

Actinium Pharmaceuticals

$0.26

0.015 (6.12%)

06:14
12/09/19
12/09
06:14
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06:14
Hot Stocks
Actinium Pharmaceuticals presents new findings from Phase 3 SIERRA trial at ASH »

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  • 18

    Dec

AMZN

Amazon.com

$1,750.79

10.2 (0.59%)

06:14
12/09/19
12/09
06:14
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06:14
Periodicals
Bezos says Amazon will support Department of Defense, Reuters reports »

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AAPL

Apple

$270.71

5.15 (1.94%)

06:13
12/09/19
12/09
06:13
12/09/19
06:13
Initiation
Apple initiated  »

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PNC

PNC Financial

$153.81

1.6 (1.05%)

, BBT

BB&T

$0.00

(0.00%)

06:12
12/09/19
12/09
06:12
12/09/19
06:12
Downgrade
PNC Financial, BB&T, SunTrust rating change  »

PNC Financial downgraded…

PNC

PNC Financial

$153.81

1.6 (1.05%)

BBT

BB&T

$0.00

(0.00%)

STI

SunTrust

$70.09

0.83 (1.20%)

03/08/13
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  • 15

    Jan

  • 26

    Feb

ETNB

89bio

$28.38

0.86 (3.13%)

06:10
12/09/19
12/09
06:10
12/09/19
06:10
Initiation
89bio initiated  »

89bio initiated with a…

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TMUS

T-Mobile

$77.77

0.79 (1.03%)

, S

Sprint

$5.55

0.14 (2.59%)

06:08
12/09/19
12/09
06:08
12/09/19
06:08
Periodicals
AGs to go after Dish's Ergen in T-Mobile-Sprint trial, NY Post reports »

The coalition of…

TMUS

T-Mobile

$77.77

0.79 (1.03%)

S

Sprint

$5.55

0.14 (2.59%)

DISH

Dish

$33.59

(0.00%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 09

    Dec

  • 16

    Dec

SF

Stifel Financial

$61.91

0.66 (1.08%)

06:08
12/09/19
12/09
06:08
12/09/19
06:08
Hot Stocks
Stifel Financial announces sale of Ziegler Capital Management »

Stifel Financial…

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IDYA

Ideaya Biosciences

$7.92

0.2 (2.59%)

06:08
12/09/19
12/09
06:08
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06:08
Hot Stocks
Ideaya Biosciences announces update on IDE196 clinical trial »

Ideaya Biosciences…

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GS

Goldman Sachs

$224.57

7.34 (3.38%)

06:05
12/09/19
12/09
06:05
12/09/19
06:05
Periodicals
Goldman to launch robo adviser to bring wealth management to masses, FT says »

Goldman Sachs plans to…

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  • 15

    Jan

  • 26

    Feb

ETNB

89bio

$28.38

0.86 (3.13%)

06:05
12/09/19
12/09
06:05
12/09/19
06:05
Initiation
89bio initiated  »

89bio initiated with a…

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