L Brands 'Still Very Sexy' At Topeka, Buy Rating Initiated

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In a report published Monday, Topeka Capital Markets analyst Dorothy Lakner initiated coverage of
L Brands IncLB
with a Buy rating and $106 price target, as its two powerful brands have plenty of room to grow both domestically and internationally. Lakner argued that Victoria's Secret has a "big market share" domestically, but has only just begun to grow internationally. On the other hand, Bath & Body Works "dominates its space" and generates higher margins than Victoria Secret. Bottom line, L Brands has a strong management team coupled with strong cash flows and shareholder returns, making it a "core holding" for any consumer portfolio. Shares traded recently at $93.93, up 0.55 percent.
Posted In: Analyst ColorInitiationAnalyst RatingsBath & Body WorksDorothy LaknerretailersTopeka Capital MarketsVictoria's Secret
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