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UPDATE: Nomura Reiterates on L Brands Following Positive January Comp

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In a report published Friday, Nomura analyst Simeon A. Siegel reiterated a Neutral rating on L Brands (NYSE: LB), but lowered the price target from $58.00 to $55.00.

In the report, Nomura noted, “LB's 3rd consecutive 9% January comp vastly outperformed expectations as the semi-annual sales drove stronger-than-expected topline at “significant” merch margin pressure, leading the company to guide to EPS only ‘slightly above' its prior guidance. Although challenging mall traffic forced a promotional driven comp, we do believe the calendar impacted the headline margin number. We maintain our Neutral rating in the face of ongoing challenging trends and our expectation for a below-consensus FY14 guide.”

L Brands closed on Thursday at $53.98.

Latest Ratings for LB

DateFirmActionFromTo
May 2015Goldman SachsUpgradesBuyConviction Buy
May 2015RBC CapitalInitiates Coverage onSector Perform
Apr 2015Cantor FitzgeraldInitiates Coverage onHold

View More Analyst Ratings for LB
View the Latest Analyst Ratings

Posted-In: Nomura Simeon A. SiegelAnalyst Color Price Target Analyst Ratings

 

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