Stifel Raises Price Target on L Brands (LB) Following 2Q Report

August 18, 2016 1:55 PM EDT
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Price: $61.87 +1.19%

Rating Summary:
    11 Buy, 17 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Stifel reiterated a Buy rating on L Brands (NYSE: LB), and raised the price target to $90.00 (from $82.00), following the company's 2Q earnings report.

Analyst Richard E. Jaffe commented, "L Brands reported adjusted 2Q EPS of $0.70, a 3% increase vs. $0.68 LY. Results were well above consensus and management’s initial plan, largely driven by better than expected results at VS (management guided to a mid-single digit sales decline at VS NA, actual sales increased 3%), fueled, in part, by strength in bralettes and sports bras."

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 $74.06 yesterday.

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