After Barclays and Merrill Lynch gave L Brands (NYSE: LB) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Susan Anderson reiterated a Buy rating on L Brands yesterday and set a price target of $30.00. The company’s shares closed last Monday at $23.42.
According to TipRanks.com, Anderson is a 1-star analyst with an average return of -0.2% and a 45.3% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Turning Point Brands, G-III Apparel Group, and Lululemon Athletica.
The word on The Street in general, suggests a Hold analyst consensus rating for L Brands with a $26.74 average price target, which is a 19.1% upside from current levels. In a report released today, Evercore ISI also upgraded the stock to Buy with a $30.00 price target.
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Based on L Brands’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $2.68 billion and GAAP net loss of $252 million. In comparison, last year the company had a net profit of $540 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.
