Oppenheimer Thinks L Brands’ Stock is Going to RecoverBy Jason Carr
In a report released today, Anna Andreeva from Oppenheimer assigned a Buy rating to L Brands (NYSE: LB), with a price target of $82. The company’s shares opened today at $66, close to its 52-week low of $60.
According to TipRanks.com, Andreeva is a 3-star analyst with an average return of 1.4% and a 44.0% success rate. Andreeva covers the Services sector, focusing on stocks such as Ascena Retail Group, Abercrombie Fitch, and Children’s Place.
Currently, the analyst consensus on L Brands is Moderate Buy and the average price target is $74.50, representing a 12.9% upside.
In a report issued on November 14, Citigroup also upgraded the stock to Buy.
The company has a one year high of $97.43 and a one year low of $60. Currently, L Brands has an average volume of 2.11M.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Charles Mcguigan, the Pres Global Sourcing&Logistics of LB sold 23,986 shares for a total of $1,831,838.
L Brands, Inc. engages in the retail business. It is focused on women’s intimate and other apparel, personal care and beauty categories. It operates its business through Victorias Secret and Bath & Body Works International segment. Its brands include Victorias Secret, Bath and Body Works, Pink, La Senza and Henri Bendel. The company was founded by Leslie Herbert Wexner in 1963 and is headquartered in Columbus, OH.