Stifel Cuts Price Target on L Brands (LB) to $85 Following 3Q Pre-Release

November 1, 2016 7:14 AM EDT
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

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Stifel maintained a Buy rating on L Brands (NYSE: LB), and cut the price target to $85.00 (from $90.00), following the company's 3Q pre-release. Management expects 3Q EPS to be $0.40, at the low end of its previous guidance range of $0.40-$0.45 and below the consensus of $0.46.

Analyst Richard Jaffe commented, "LB pre-released its comparable sales for October and updated its 3Q EPS guidance in advance of its Investor Update Meeting tomorrow. October comparable sales are expected to be up 1%, including an expected 2% comp decline at VS and a 6% comp gain at BBW. Additionally, the company expects 3Q EPS to be $0.40 (versus previous guidance of $0.40-$0.45 and below our estimate and consensus of $0.46)."

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 $72.19 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 PT Change

Related Entities

Stifel

Add Your Comment