Tuesday, I raised L Brands (NYSE:LB) to a Buy from Neutral as it confirmed its breakout of 29 June at 15.12/share. Wednesday it is trading pre-market at 31.21 Vs it 52 wk trading range at 8.00 – 31.33.
Support is strong and deep at 28.90 and the resistance at 32.88 is weak. My outlook is Very Bullish across the board. The target price 105.41 long term.
L Brands, Inc. operates as a specialty retailer of women’s intimate and other apparel, personal care, and beauty and home fragrance products.
The company operates in three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International.
Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.
The company offers its products under the Victoria’s Secret, PINK, Bath & Body Works, White Barn, CO Bigelow, and other brand names.
It sells its merchandise through company-owned specialty retail stores; through its Websites; and through franchises, licenses, and wholesale partners.
As of 20 May 2020, the company operated 2,897 company-owned specialty stores in the United States, Canada, the United Kingdom, and Greater China, as well as sold its brands through approximately 700 franchised locations and online worldwide.
The company was formerly known as Limited Brands, Inc. and changed its name to L Brands, Inc. in March 2013. L Brands, Inc. was founded in Y 1963 and is HQ’d in Columbus, Ohio.
Have a healthy day, Keep the Faith!