UPDATE: Credit Suisse Upgrades L Brands Inc

Analysts at Credit Suisse upgraded shares of L Brands Inc LB to an Outperform rating with a $73 price target Wednesday.

Christian Buss sees upside in shares of L Brands due to potential for margin-led earnings upside in the upcoming six to nine months.

In its last earnings announcement, L Brands reported EPS of $0.63, which beat estimates of $0.62 per share by 1.61 percent. Revenue also beat estimates by 0.94 percent coming in at $2.67 billion.

Shares of L Brands closed Tuesday at $63.67.