UPDATE: Nomura Equity Research Reiterates Buy Rating, Lowers PT on Limited Brands
In a report published Friday, Nomura Equity Research reiterated its Buy rating on Limited Brands (NYSE: LTD), but lowered its price target from $55.00 to $52.00.
Nomura Equity Research noted, “Dec comps of +3% came in below cons, our ests, and mgmt plan. While BBW results were strong (+7%), VSS's flat comp (driven by weakness in Beauty, typically representing 25-30% of holiday sales) weighed on sales/margins. The key question is whether there are legitimate ‘reasons' why VSS was weak, or whether they are just ‘excuses' that give false hope to what could just be a slowing trend.”
Limited Brands closed on Thursday at $44.71.
Latest Ratings for LTD
|Nov 2013||Sterne Agee||Maintains||Buy|
|Nov 2013||Mizuho Securities||Initiates Coverage on||Neutral|
|Nov 2013||Canaccord Genuity||Maintains||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.