Lucy Nieves
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Lucy Nieves in Barbie Stocks,

9% Downside Seen In L Brands As New Merchandise Struggles To Gain Fans

Buckingham Research downgraded shares of L Brands Inc LB from Buy to Neutral and lowered its price target from $43 to $40, with the revised target representing roughly 9-percent downside from current levels.

The rationale for the action? The firm said its near-term concern is based on its view that Victoria's Secret is struggling to gain traction with newness in core lingerie, pressuring ASPs and merchandise missteps causing incremental margin pressure at Bath & Body Works. Read more

The upside is kinda limited. Stochastics are getting close to the overbought territory.