NEW YORK (TheStreet) -- L Brands (LB) shares are up 2% to $73.91 on Tuesday after the specialty retail operator raised its third quarter earnings forecast following the closing bell on Monday.
The Victoria Secret and Bath and Body Works store operator said that it now expects to see third quarter earnings between 38 cents and 40 cents for the quarter, a significant improvement over the 26 cents to 31 cents guidance it had previously forecast.
The company is scheduled to release its earnings results on November 19 with analysts expecting earnings of 32 cents per diluted share on revenue of $2.3 billion.
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TheStreet Ratings team rates L BRANDS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate L BRANDS INC (LB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."