Piper Jaffray maintained a Neutral rating on L Brands (NYSE: LB), and cut the price target to $93.00 (from $105.00), following the company's 4Q earnings report. EPS of $2.15 beat the company's pre-announced guidance of $2.05. Guidance for FQ1 calls for EPS of $0.50 to $0.55, which misses the consensus mark of $0.65.

Analyst Neely Tamminga commented, "We are updating our model to reflect the company's FQ4 EPS results in which EPS of $2.15 bested the company's pre-announced guidance of $2.05. Guidance for FQ1 calls for EPS of $0.50 to $0.55, which compares with the consensus mark of $0.65 and our prior $0.61 estimate. For 2016/FY17, EPS guidance of $3.90 to $4.10 compares with the consensus estimate of $4.19 and our prior $3.88. February is off to a good start what with comps tracking +MSD% versus +LSD% guidance; FQ1 comp guidance calls for +2% to +4%. With shares trading near our revised $93 price target, we are reiterating our Neutral rating."

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Shares of L Brands closed at $83.19 yesterday.