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LB

L Brands

$18.02

0.15 (0.84%)

13:44
12/17/19
12/17
13:44
12/17/19
13:44

L Brands downgraded to Ba2 at Moody's, placed on review for further downgrade

Moody's Investors Service downgraded all ratings of L Brands, including its Corporate Family Rating to Ba2 from Ba1 and its Probability of Default Rating to Ba2-PD from Ba1-PD. The company's existing senior unsecured guaranteed notes were also downgraded to Ba2 from Ba1 and the senior unsecured unguaranteed notes were downgraded to B1 from Ba2. The Speculative Grade Liquidity Rating was lowered to SGL-2 from SGL-1. Ratings were placed on review for further downgrade."The downgrade of L Brands reflects the continued negative comparable store sales and operating margin compression at Victoria's Secret. Although Bath & Body Works continues to outperform, the turnaround at Victoria's Secret remains in early stages as competitive pressures remain intense," says Moody's Vice President, Christina Boni.

  • 27

    Feb

LB L Brands
$18.02

0.15 (0.84%)

11/22/19
DADA
11/22/19
NO CHANGE
Target $18
DADA
Neutral
L Brands price target lowered to $18 from $20 at DA Davidson
DA Davidson analyst John Morris lowered his price target on L Brands to $18 and kept his Neutral rating after its in-line Q3 earnings and a warning by the management that the shorter holiday season and last year's promotional activity could result in headwinds during Q4. The analyst intends to continue monitoring the company's merchandise margins as L Brands navigates a "challenging quarter" while holding an elevated inventory position.
11/22/19
11/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Duke Energy (DUK) double upgraded to Buy from Sell at Goldman Sachs with analyst Michael Lapides saying the shares lagged the sector index by 18% this year and most negative catalysts have already played out. 2. Uber (UBER) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying Uber's business fundamentals are "showing signs of sustainable improvement" while the current valuation "offers a more reasonable entry point." 3. L Brands (LB) upgraded to In Line from Underperform at Evercore ISI. 4. Site Centers (SITC) upgraded to Buy from Hold at Stifel with analyst Simon Yarmak saying he feels the "significant progress" made over the last couple of years, combined with the company's improved balance sheet, has set the company up to grow in the near-term, and should result in the company outperforming its peers over the next year. 5. Applied DNA Sciences (APDN) upgraded to Buy from Hold at Maxim. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/25/19
JEFF
11/25/19
NO CHANGE
Target $14
JEFF
Underperform
L Brands exploring alternatives won't prevent further downside, says Jefferies
Jefferies analyst Randal Konik noted that media reports indicate L Brands is considering strategic alternatives, though he does not believe such an exploration can save the shares from further downside as he contends Victoria's Secret and Pink are "broken" brands whose value will continue to diminish and that Bath & Body Works "isn't what bulls think." While the latter has been strong, the business is cyclical and not well positioned for the long-term, said Konik in a note entitled "No Alternatives Are Strategic Here Except Closing Hundreds Of Stores...Sell LB." He keeps an Underperform rating on L Brands shares with a $14 price target.
12/17/19
JEFF
12/17/19
NO CHANGE
Target $14
JEFF
Underperform
Jefferies found increased promotions at L Brands' Bath & Body Works
Jefferies analyst Randal Konik says his weekend data found a "slight increase" in promotional posture at L Brands' Bath & Body Works. The division's promotions across body care products were "broader and slightly deeper" year-over-year, Konik tells investors in a research note. The analyst, who notes his 10-plus years of data continue to point to elevated promotional activity at L Brands' Victoria's Secret and Pink brands, says Bath & Body Works' segment margins have peaked, compares are difficult going forward, and the concept is "over-stored." He sees issues forming at the division in 2020 and continues to recommend selling shares of L Brands. Konik has an Underperform rating on the name with a $14 price target. The stock in late morning trading is up 7c to $17.95.

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IMVT

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-0.01 (-0.06%)

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TBLT

ToughBuilt

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-0.0255 (-7.11%)

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MYO

Myomo

$0.32

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SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

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SRNE

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AKER

Akers Biosciences

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ECA

Encana

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MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

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VOD

Vodafone

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-0.225 (-1.11%)

, BT

BT Group

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Options
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APLS

Apellis

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0.03 (0.07%)

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$NSD

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LGC

Legacy Acquisition Corp

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GNUS

Genius Brands

$0.33

-0.015 (-4.41%)

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BBY

Best Buy

$90.21

1.28 (1.44%)

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