B.Riley FBR analyst Susan Anderson reiterated a Buy rating on L Brands (LB – Research Report) today and set a price target of $30. The company’s shares closed last Monday at $18.55, close to its 52-week low of $15.82.
“We attended L Brands’ (LB) the company headquarters in Columbus, OH on 9/10 where we learned more about the strategies of new CEOs of VS and Pink, key focuses to stabilize the businesses and return to growth, as well as continued growth drivers for BBW. The most significant change is in marketing, where both VS and Pink are shifting to strategies that are more inclusive and reflect female empowerment. Product offerings are starting to reflect the vision of the new CEOs with distinct lines drawn between VS and Pink with VS focused on adding more elevated products and Pink on more value and on-trend product in lounge. Both brands are focused on offering a distinct good, better, best proposition. We expect these changes to increase in penetration moving into 4Q and believe they will be well received by customers.”
According to TipRanks.com, Anderson is a 2-star analyst with an average return of 0.1% and a 44.3% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica Inc, Turning Point Brands, and Columbia Sportswear.
L Brands has an analyst consensus of Hold, with a price target consensus of $23.69.
Based on L Brands’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $2.9 billion and net profit of $38 million. In comparison, last year the company earned revenue of $2.98 billion and had a net profit of $99 million.
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L Brands, Inc. engages in the retail business. It is focused on women’s intimate and other apparel, personal care and beauty categories. It operates its business through the following segments: Victorias Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International.