UPDATE: Morgan Stanley Reiterates On L Brands Following Impressive Q3

In a report published Friday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating on L Brands (NYSE: LB), and raised the price target from $76.00 to $84.00.

In the report, Morgan Stanley noted, “LB continues to out execute peers and deliver impressive financial performance. The stock closed at an all-time high of $80.08 today, but we expect it to grind higher over the next 12-18 months. We raise our PT to $84, but see a high probability of our $105 bull case playing out. Reiterate OW.”

L Brands closed on Thursday at $80.08.