L Brands (LB) PT Lowered to $59 at Bernstein

Bernstein lowered its price target on L Brands (NYSE: LB) to $59.00 (from $69.00) while maintaining a Outperform rating.

Analyst Jamie Merriman comments "We remain encouraged by the mix shift that remains ongoing at Victoria's Secret, as we believe AUR improvement and a shift to constructed bras should provide some room for reinvestment in promotion where necessary."

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