L Brands Bears ‘May Not Be Bearish Enough,’ Jefferies Warns
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Victoria’s Secret parent L Brands Inc. plunged as much as 9.5% Friday after Credit Suisse’s Michael Binetti joined just three other analysts in the bearish camp. The company has eight buy ratings, 16 holds, and 4 sells, according to Bloomberg data.
Binetti’s new 12-month price target of $14 matched the Street-low held by Jefferies analyst Randal Konik, who warned that the bears still “may not be bearish enough.”