UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Limited Brands

In a report published Friday, Jefferies & Company reiterated its Hold rating on Limited Brands

, and raised its price target from $45.00 to $48.00. Jefferies noted, “September SSS numbers came in better than expected which we think was driven by improved consumer confidence combined with the benefit of favorable fall fashion trends. GPS posted another beat this month with SSS +6% and with strength at all three core brands. While GPS is currently at new 52-week highs, it remains our top pick as we expect continued upward earnings revisions this year and next.” Limited Brands closed on Thursday at $50.24.