Fly News Breaks for February 24, 2020
Feb 24, 2020 | 07:15 EDT
Goldman Sachs analyst Alexandra Walvis raised the firm's price target on L Brands to $28 from $23 and keeps a Buy rating on the shares after the company announced several strategic actions, including a proposal for Sycamore Partners to take a 55% interest in Victoria's Secret, as well as management changes. She sees the transaction providing L Brands investors with less overhang from Victoria's Secret and greater visibility into the "high quality" Bath & Body Works asset, Walvis tells investors.
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