L Brands (LB) PT Lifted to $110 at Mizuho Securities

Mizuho Securities analyst Betty Chen reiterated an Outperform rating and boosted its price target on L Brands (NYSE: LB) to $110.00 (from $100.00) following results.

Chen commented, "We are raising our estimates and PT to $110 (from $100) following solid October comps, BTE 3Q guidance, and greater confidence in the longer-term strategies to expand its dominant market share in intimate apparel and personal care & beauty products following the Analyst Day meeting. The company outlined plans to deliver +10%+ annual EBIT dollar growth and +20% EBIT margin LT through: (1) solid inventory control and speedy supply chain, (2) leverage of fixed expenses, (3) growth of domestic square footage and product extensions, and (4) expansion of the Int'l business."

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 $99.38 yesterday.

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