L Brands (LB) PT Raised to $104 at UBS on New Evidence Lab Data That Implies an EPS Beat Ahead

June 10, 2021 7:14 AM EDT
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Price: $62.78 -0.02%

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(Updated - June 10, 2021 8:05 AM EDT)

UBS analyst Jay Sole raised the price target on L Brands (NYSE: LB) to $104.00 (from $102.00) after the UBS Evidence Lab uncovered new pricing data that increased his conviction in the Buy thesis.

The analyst stated "The pricing data shows Victoria's Secret's promotions are declining at a surprisingly fast rate. This boosts our confidence the Victoria's Secret (VS) turnaround is real and we continue to believe the gains made at Bath & Body Works last year are much more sustainable than the Street thinks. This will result in better near-term earnings growth than the market expects."

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