Multi-year low for L Brands

|About: L Brands, Inc. (LB)|By:, SA News Editor

Citi lowers L Brands (NYSE:LB) to a Neutral rating after having the store chain set at Buy previously.

Analyst Paul Lejuez says the company has too many stores and warns that mall traffic trends could get worse.

The firm takes its price target all the way down to $49 from $70.

Shares of L Brands are down 3.10% to hit their lowest level in about four years.