Lucy Nieves
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Skimpy Victoria's Secret Outlook Forces Goldman Downgrade of L Brands

L Brands Inc LB announced last week that its restructuring initiatives might impact Victoria’s Secret comp sales growth in the near term.

Goldman Sachs’ Lindsay Drucker Mann downgraded the rating on the company from Buy to Neutral, while lowering the price target from $115 to $91 and removing L Brands from Goldman Sachs’ Conviction Buy list.