Sell L Brands (LB) Aggressively, $16 PT Reiterated At Jefferies

Jefferies analyst Randal Konik reiterated an Underperform rating and $16.00 price target on L Brands (NYSE: LB) after VS and PINK discounting shows elevated promo levels that indicate share loss is mounting.

The analyst stated "VS panty prices are at record lows, bringing back swim is not the answer (it is also not the problem), and key products are continuing to be promoted. We remain below cons., as we believe VS and PINK will continue to erode, while BBW is rolling over. This will continue to cause operating deleverage and EPS risk, and we would sell shares aggressively".

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 $28.18 yesterday.

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