Cowen Remains Bullish on L Brands (LB) Following 2Q Earnings
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Rating Summary:
17 Buy, 21 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Cowen maintained an Outperform rating and $100.00 price target on L Brands (NYSE: LB) following the company's 2Q15 earnings report. LB reported EPS of $0.68, in line the Street estimates, and versus mgmt's guidance of $0.66-$0.68. Management raised their outlook for 2015 EPS to be in the range of $3.58-$3.73 (up from previous guide of $3.50 to $3.70) and versus the Street at $3.73.
Analyst Oliver Chen commented, "LB reported 2Q EPS in line w/St. & our estimates, guided 3Q below St (40-45c vs. St. 47c) & raised FY15 guide ($3.58 -$3.73 vs St $3.73). We are encouraged by raised FY guide & 2Q GM beat, but acknowledge tougher comp compares in 2H (3Q/4Q14 comps +5%, +6% vs. LSD in 1H14). Look for detail on upcoming catalysts during call tomorrow am."
For an analyst ratings summary and ratings history on L Brands click here. For more ratings news on L Brands click here.
Shares of L Brands closed at $81.18 yesterday.
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