Wunderlich Securities Sees Holiday Off to Solid Start for L Brands

In a report published Wednesday, Wunderlich Securities analyst Danielle McCoy reiterated a Buy rating and $90.00 price target on

. In the report, Wunderlich Securities noted, “We are reiterating our Buy rating, $90 price target and estimates with L Brands (LB) reporting November (four weeks ending November 29) same store sales on Thursday, December 4, before the open. We believe the key focus on new product launches, gifting, exciting promotions and enhanced in-store execution paid off in November, especially Black Friday and will continue going forward. With inventories well-positioned heading into the peak selling period, we believe out-the-door pricing will rise and merchandise margins will also show improvement, excluding the exited non-core categories. We continue to believe the company is on the right track in terms of enhancing execution, and we recommend shares of LB.” L Brands closed on Tuesday at $81.04.