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L Brands (LB) Stock Gets Rating Downgrade at JPMorgan

NEW YORK (TheStreet) -- L Brands (LB - Get Report) was downgraded to "neutral" from "overweight" at JPMorgan on Monday morning.

The firm lowered its rating on the operator of specialty retail businesses based on a valuation call. The stock is up 37% over the past year, The Fly reports.

However, JPMorgan did up its price target on the stock to $100 from its previous $95 price target.

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Unfavorable apparel trends within the industry also led to the downgrade, CNBC.com reports.

L Brands stock is flat in pre-market trading this morning. Shares closed up by 0.03% to $96.91 on Friday afternoon.

Based in Columbus, OH, L Brands is a specialty retailer of women's intimate and other apparel, beauty and personal care products and accessories. The company is the parent of the Bath & Body Works and Victoria's Secret stores.

Separately, TheStreet Ratings team rates L BRANDS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

We rate L BRANDS INC (LB) a BUY. This is driven by a...


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