Wunderlich Securities Recommends Purchase of L Brands

In a report published Tuesday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating and $75.00 price target on

. In the report, Wunderlich Securities noted, “We are reiterating our Buy rating, $75 price target, and estimates with L Brands (LB) reporting September (five weeks ending Oct. 4) same store sales on Thursday, October 9, before the open. We believe the focus on the launch of its Fearless bra at VS, its ultimate yoga collection, Varsity hoodie at PINK, and Autumn scents at BBW, combined with the use of promotions including $15 off your purchase when an Angel card is purchased and used at VS and adjusted bundled deals at BBW, drove traffic, sell-through, and most of all, margin improvement. In addition, inventory positions appeared very lean and, in our view, are well-positioned to increase the sense of urgency to ‘buy now' as we head into the Holiday shopping season. We recommend purchase of LB.” L Brands closed on Monday at $67.08.