Jefferies Downgrades L Brands (LB) to Underperform; Expecting a Down FY18

November 7, 2016 6:57 AM EST
Get Alerts LB Hot Sheet
Price: $71.91 -0.48%

Rating Summary:
    11 Buy, 17 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade LB Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Jefferies downgraded L Brands (NYSE: LB) from Hold to Underperform with a price target of $50.00 (from $70.00), saying they are now expecting a down FY18.

Analyst Randal Konik commented, "We see risks increasing at LB, given rising competition and pricing compression at VS (esp. in bras), and forecast down YoY EPS in FY'18, well below cons. While we expect BBW to have a strong holiday, we see fundamentals inflecting negatively and believe we are in the early innings of a negative EPS revision cycle. We see a turn taking longer than expected, and expect a multiple rerating. Downgrade to Underperform, PT to $50"

The firm cut FY17 EPS from $3.70 to $3.65 and FY18 EPS from $4.00 to $3.25.

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 $65.00 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades, Hot Downgrades

Related Entities

Jefferies & Co, Randal Konik

Add Your Comment