Wedbush Raises Price Target on L Brands (LB) Following 2Q15 Earnings

Wedbush reiterated a Neutral rating on L Brands (NYSE: LB), and raised the price target to $91.00 (from $89.00), following the company's 2Q15 earnings results. LB reported 2Q15 EPS of $0.68, in line with consensus. Management raised 2015 EPS guidance to $3.58-$3.73 from $3.50-$3.70, placing consensus of $3.73 exactly at the high end of the range.

Analyst Morry Brown commented, "LB guided 3Q modestly below while raising its 2015 outlook in line with consensus and the company’s typical pattern. The story remains intact, with dominant brands competing in less competitive non-apparel categories, driving traffic increases and strong margin performance. Despite our positive view on fundamentals, we remain sidelined as we believe the market fairly values the LB story."

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 $83.94 yesterday.

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