L Brands (LB) Stock Price Target Raised by Analysts

NEW YORK (TheStreet) -- L Brands (LB) price target was raised to $85 from $84 by analysts at Cantor Fitzgerald with a "hold" rating.

The firm cited better-than-expected May same-store sales.

Last month, the fashion retailer reported that same-store sales grew 5% on top of gaining 3% in the same period the previous year. Cantor Fitzgerald analysts had expected a gain of 3%.

Specifically, same-stores sales increased 5% at Victoria's Secret, beating the consensus estimate by 100bps, according to the analyst note.

"The company called the Bombshell and Multi-way collections as top-line drivers, and we believe VS swimwear is gaining momentum based on our recent store visits," analysts said.

In Friday's morning trading session, shares are falling 1.39% to $85.96.

Separately, 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 some important positives, 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 impressive record of earnings per share growth, compelling growth in net income, revenue growth, solid stock price performance and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

If you liked this article you might like

Amazon Can't Even Be Stopped By a Massive Hurricane

Play Defense, Play the Dollar: Cramer's 'Mad Money' Recap (Tuesday 8/29/17)

Abercrombie & Fitch Now the King of Sexy Swimsuits?

Amazon Must Fear Walmart

It's No Secret, Victoria: L Brands Can't Find Its Bullish Shape