LB - L Brands gains after round of analyst upgrades

Morgan Stanley upgrades L Brands (LB) to an Overweight rating. Analyst Kimberly Greenberger: "Sequential profitability improvement at VS, continued top line and profitability strength at BBW, and above-expectations 1Q21 guidance confirm LB will be more profitable in 2021 than it was for the last 5 years. 2H20 results and 1Q21 guidance leave us incrementally confident in VS' turnaround and profitability trajectory as well as BBW's revenue growth sustainability and margin expansion opportunity." The firm assigns a price target to $65 on an improved M-T operating forecast and sum-of-the-parts valuation methodology. Also on Wall Street today, Citi lifted L Brands to a Neutral rating and Evercore moved to an Outperform rating. Shares of L Brands are up 1.65% premarket to $53.22. There is some speculation that L Brands could be worth $4B in a sale.

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L Brands gains after round of analyst upgrades