Morgan Stanley Feels Confident in L Brands Following Management Meetings

In a report published Monday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating and $66.00 price target on L Brands LB. In the report, Morgan Stanley noted, “Our meetings highlighted management's excitement and confidence in LB's global growth potential. Int'l openings likely increase by 200-250 stores in FY15. We find current 16x FY15 EPS valuation attractive for two brands with no real peers and genuine global growth; reiterate OW.” L Brands closed on Friday at $57.39.