CIBC analyst CIBC World Markets maintained a Sell rating on L Brands (LB) yesterday and set a price target of $43.00. The company’s shares closed last Thursday at $66.07, close to its 52-week high of $71.99.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for L Brands with a $77.00 average price target.
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Based on L Brands’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $3.02 billion and net profit of $277 million. In comparison, last year the company earned revenue of $1.65 billion and had a GAAP net loss of $297 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock.
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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. Its brands include Victorias Secret, Bath and Body Works, Pink, La Senza, and Henri Bendel. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.
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