LB - L Brands tipped by Wells Fargo to blast past Q3 estimates

Wells Fargo call L Brands (LB) one of its top long ideas and hikes its price target on the retailer to $45 from $40 "LB could possibly post the most upside to numbers in 3Q across our entire universe. The combination of BBW’s momentum and VS’ stabilization should add more firepower to the stock despite its run in 2020. We are raising our 3Q estimates well-above the Street - with EPS moving to $0.28 (vs. Street $0.07) driven by higher comps/margins at VS, but more importantly BBW." The firm keeps an Overweight rating on LB into the print. See consensus estimates on L Brands. Shares of L Brands are up 0.51% premarket to $33.30.

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L Brands tipped by Wells Fargo to blast past Q3 estimates