BMO Capital Markets Increases L Brands (NYSE:LB) Price Target to $64.00


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L Brands (NYSE:LB) had its price objective upped by stock analysts at BMO Capital Markets from $45.00 to $64.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. BMO Capital Markets’ target price indicates a potential upside of 38.65% from the stock’s current price.

Several other brokerages have also commented on LB. B. Riley raised their price target on shares of L Brands from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Morgan Stanley increased their price objective on shares of L Brands from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, January 8th. MKM Partners increased their price objective on shares of L Brands from $45.00 to $48.00 in a report on Wednesday, January 6th. ValuEngine upgraded shares of L Brands from a “strong sell” rating to a “sell” rating in a report on Thursday, January 7th. Finally, BidaskClub cut shares of L Brands from a “hold” rating to a “sell” rating in a report on Friday, January 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.58.

LB opened at $46.16 on Thursday. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of -59.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.67. L Brands has a fifty-two week low of $8.00 and a fifty-two week high of $48.29. The company’s 50-day moving average price is $40.07 and its 200 day moving average price is $31.13.

L Brands (NYSE:LB) last released its quarterly earnings data on Tuesday, November 17th. The specialty retailer reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $1.04. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.67 billion. L Brands had a negative net margin of 1.77% and a negative return on equity of 37.40%. Equities analysts anticipate that L Brands will post 2.3 EPS for the current year.

In other L Brands news, insider James L. Bersani sold 18,900 shares of the stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $39.65, for a total value of $749,385.00. Following the completion of the sale, the insider now owns 195,066 shares in the company, valued at approximately $7,734,366.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.83% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in LB. Chiron Capital Management LLC bought a new position in shares of L Brands during the 3rd quarter valued at $35,000. Creative Financial Designs Inc. ADV raised its holdings in shares of L Brands by 268.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,491 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 1,086 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of L Brands during the 2nd quarter valued at $58,000. Global Retirement Partners LLC bought a new position in shares of L Brands during the 3rd quarter valued at $64,000. Finally, Cerebellum GP LLC bought a new position in shares of L Brands during the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 76.25% of the company’s stock.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.

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