Piper Jaffray Raises Limited Brands Price Target To $36, Reiterates Overweight (LTD)
Piper Jaffray raised its Limited Brands (NYSE: LTD) price target to $36 from $35 and reiterated Limited Brand's Overweight rating in a research report published today.
In the report, Piper Jaffray states, "We are reiterating our Overweight rating on LTD shares and raising our price target following the company's January's sales report in which same-store sales were ahead of our expectations and management raised FQ4 EPS guidance. We are especially pleased with Victoria's Secret's same-store sales of +35% in January,
which was achieved without a decline in merchandise margin. We remain positive on LTD shares because of its tight inventory management, strong real estate portfolio, and international growth opportunities."
Shares of Limited Brands were at $31.45 in after hours trading at the time of posting, up 0.51% from Thursday's market close.
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