Stifel Cuts Price Target on L Brands (LB) to $85 Following 3Q Pre-Release
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
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)."
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
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Shopify (SHOP): CFO Meetings Indicate Strong Growth Ahead - Wedbush
- Jefferies Cuts Price Target on Eros Int'l (EROS) to $18 Following Multi-Year Deal
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!