L Brands Given New $64.00 Price Target at RBC Capital (LB)
Equities research analysts at RBC Capital hoisted their price objective on shares of L Brands (NYSE:LB) from $62.00 to $64.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price suggests a potential upside of 5.58% from the stock’s previous close.
L Brands (NYSE:LB) opened at 60.62 on Friday. L Brands has a 52-week low of $50.78 and a 52-week high of $67.12. The stock’s 50-day moving average is $58.69 and its 200-day moving average is $56.59. The company has a market cap of $17.698 billion and a price-to-earnings ratio of 19.11.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.52 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that L Brands will post $3.16 earnings per share for the current fiscal year.
A number of other firms have also recently commented on LB. Analysts at Zacks reiterated a “neutral” rating on shares of L Brands in a research note on Tuesday, July 22nd. They now have a $60.00 price target on the stock. Separately, analysts at Oppenheimer upgraded shares of L Brands from an “underperform” rating to a “market perform” rating in a research note on Monday, June 9th. They now have a $56.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of L Brands in a research note on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. L Brands currently has a consensus rating of “Buy” and a consensus target price of $60.75.
L Brands, Inc, formerly Limited Brands, Inc operates in the specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories.
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