Nomura Securities maintains a 'Buy' on Limited Brands (LTD); No Signs of Comp Slowdown, Raise FY12 EPS

Nomura Securities maintains a 'Buy' on Limited Brands (NYSE: LTD) price target of $50.00.

Nomura analyst, Paul Lejuez, said, " LTD reported an impressive +11% September comp, the best comp by far in the softlines universe. What is more impressive is that LTD has been posting strong comps against difficult comparisons all year, despite being less promotional than most competitors in a challenging consumer environment. This gives us further confidence that fears of facing difficult comparisons in F12 are overblown. We are increasing our F12E EPS from $3.06 to $3.16 (vs consensus at $2.68). The stock trades at just 12.9x our F12 EPS, a discount vs the group median at 13.5x, despite its strong momentum in the near term and int’l growth opportunities in the long term."

For more ratings news on Limited Brands click here and for the rating history of Limited Brands click here.

Shares of Limited Brands closed at $40.59 yesterday.

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