LB - Why L Brands Stock Is Soaring This Week
Shares of personal care and apparel retailer L Brands (NYSE: LB) have surged this week thanks to a string of positive analyst comments. Analysts at Bank of America , Deutsche Bank , and UBS had good things to say about the company's strategy and the overall consumer spending environment. As of 2:50 p.m. EDT on Thursday, shares of L Brands were up about 15.4% week-to-date.
On Tuesday, BofA called L Brands one of its top small- and mid-cap ideas for 2021. The bank is optimistic that the upcoming split into two separate companies, Victoria's Secret and Bath and Body Works, will lead to a richer valuation for the latter. BofA put a price target of $90 on the stock.
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Why L Brands Stock Is Soaring This Week