Bank of America Downgrades L Brands Inc to Underperform

Brokerage firm Bank of America Downgrades its rating on L Brands Inc(NYSE:LB). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jun 28, 2016.

In a different note, On May 20, 2016, Cowen & Company said it Maintains its rating on L Brands Inc. In the research note, the firm Lowers the price-target to $81.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 20, 2016, Goldman Sachs said it Maintains its rating on L Brands Inc. In the research note, the firm Lowers the price-target to $75.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 20, 2016, Bernstein said it Maintains its rating on L Brands Inc. In the research note, the firm Lowers the price-target to $90.00 per share. The shares have been rated ‘Outperform’ by the firm. On May 19, 2016, MKM Partners said it Downgrades its rating on L Brands Inc. In the research note, the firm Lowers the price-target to $83.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 19, 2016, Baird said it Downgrades its rating on L Brands Inc. The shares have been rated ‘Neutral’ by the firm. On May 19, 2016, Deutsche Bank said it Maintains its rating on L Brands Inc. In the research note, the firm Lowers the price-target to $84.00 per share. The shares have been rated ‘Buy’ by the firm.

L Brands Inc (LB) made into the market gainers list on Fridays trading session with the shares advancing 0.60% or 0.4 points. Due to strong positive momentum, the stock ended at $67.53, which is also near the day’s high of $68.1604. The stock began the session at $66.87 and the volume stood at 22,64,489 shares. The 52-week high of the shares is $101.11 and the 52 week low is $60. The company has a current market capitalization of $19,415 M and it has 28,75,02,400 shares in outstanding.

L Brands Inc(LB) last announced its earnings results on May 18, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.61B. Analysts had an estimated revenue of $2.62B. Earnings per share were $0.59. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Jun 24, 2016, Allan R Tessler (director) purchased 3,500 shares at $67.92 per share price.Also, On May 27, 2016, Nicholas Coe (CEO-Bath and Body Works) sold 28,444 shares at $64.59 per share price.On Dec 30, 2015, Raymond Zimmerman (director) sold 1,500 shares at $96.26 per share price, according to the Form-4 filing with the securities and exchange commission.

L Brands Inc. operates specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel beauty and personal care products and accessories. It operates in three segments: Victoria’s Secret which includes Victoria’s Secret PINK which is the specialty retailer of women’s intimate and other apparel with fashion-inspired collections prestige fragrances celebrated supermodels and world-famous runway shows; Bath & Body Works which is the specialty retailer of home fragrance and personal care products including shower gels lotions soaps and sanitizers and Victoria’s Secret and Bath & Body Works International which includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States Canada and the United Kingdom which are primarily mall-based and through its Websites and other channels.

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