L Brands Inc LB third-quarter revenue surprise drove the shares higher Thursday and an analyst said the recent period's "impressive" performance could continue.
Shares of the Columbus, Ohio, operator of Victoria's Secret and Bath & Body Works gained 2.7 percent recently, changing hands at $79.84.
Wunderlich's Danielle McCoy boosted her target nearly 10 percent to $90, citing increasing volume, widening merchandise profit margins and a strong holiday shopping outlook.
McCoy said revamped merchandising strategies "give us confidence" in the company's performance for the fourth quarter, expected to account for about half its annual profits.
The company earlier said third-quarter sales grew 7 percent $2.32 billion while same-store sales increased 5 percent, while profits grew 43 percent to $131.8 million, or $0.44 per share.
L Brands also boosted its 2014 outlook and now sees earnings of $3.21 to $3.31 per share, vs. its previous forecast of $3.03 to $3.18 per share.
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