Analysts have been eager to weigh in on the Services sector with new ratings on TEGNA Inc (NYSE: TGNA) and L Brands (NYSE: LB).
TEGNA Inc (NYSE: TGNA)
FBR Capital analyst Barton Crockett reiterated a Hold rating on TEGNA Inc (NYSE: TGNA) today and set a price target of $24. The company’s shares opened today at $21.92.
Crockett observed:
“Tegna has set up two days of investor presentations before its planned spin of Cars.com on May 31. Day one (May 16) was for Cars.com. Day 2 (May 17) is for the rest of the business—mainly the TV stations and the media segment. The initial read from the Cars.com day was not supportive of the valuation we carry for Cars in our SOTP . In this note, we walk through why.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 7.2% and a 59.2% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, The Liberty Media Group, and The Liberty Media Group.
Currently, the analyst consensus on TEGNA Inc is Moderate Buy and the average price target is $28.50, representing a 30.0% upside.
In a report issued on May 8, Jefferies also reiterated a Hold rating on the stock with a $26 price target.
L Brands (NYSE: LB)
FBR Capital analyst Susan Anderson reiterated a Buy rating on L Brands (NYSE: LB) today and set a price target of $60. The company’s shares opened today at $51.78.
Anderson wrote:
“LB reported 1Q17 adjusted EPS of $0.33, above FBR/consensus of $0.30/$0.29, including about a $0.06 benefit related to a lower-than-expected tax rate. LB previously reported 1Q comps of –9.0% and estimated 1Q17 EPS of ~$0.30. The three cent beat is related to more of a tax benefit than originally expected (one cent) and better other income (two cents). LB guided 2Q EPS to $0.40–$0.45 vs. FBR/consensus of $0.47/$0.45 on SSS of –MSD and raised 2017 EPS by five cents to $3.10–$3.40 vs. FBR/consensus of $3.37/$3.21 on SSS of –LSD. Our thesis continues to play out as SSS are already starting to improve with –MSD expectations for 2Q (vs. –9.0% in 1Q) and expectations for merch margin to increase in 2Q after it was down for five quarters. We believe LB’s solid brands continue to resonate well with consumers based on our survey work and expect more normalized results in 2H as these pressures should continue to ease.”
According to TipRanks.com, Anderson is a 1-star analyst with an average return of -0.3% and a 45.8% success rate. Anderson covers the Services sector, focusing on stocks such as Ascena Retail Group, Abercrombie Fitch, and ClubCorp Holdings.
Currently, the analyst consensus on L Brands is Hold and the average price target is $51.83, representing a 0.1% upside.
In a report issued on May 4, Oppenheimer also reiterated a Buy rating on the stock with a $62 price target.
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