- Wells Fargo upgrades L Brands (NYSE:LB) to an Outperform rating after having it set at Market Perform.
- The firm sees LB as the next retail turnaround story poised for positive shift in the "narrative" as the company appears set to begin embracing change with an all options on the table mentality.
- Analyst Ike Boruchow and team expect L Brands to rationalize its real estate portfolio and re-assess its money-losing international operations. The price target on LN is taken up to $55.
- Shares of L Brands are up 2.75% in premarket trading to $37.50.