1. L Brands Will See a Boost by taking Victoria’s Secret Private, but Bank of America Wanted a ‘Clean Break’

    L Brands Will See a Boost by taking Victoria’s Secret Private, but Bank of America Wanted a ‘Clean Break’

    Victoria’s Secret has been taken private, which Bank of America says will leave L Brands Inc. on much stronger footing with a stand-alone Bath & Body Works. Calling the beauty chain “one of the best growth stories in retail,” Bank of America analysts led by Lorraine Hutchinson reiterated their buy stock rating for L Brands and the $30 price objective...

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    1. While our best case scenario included a clean break from the struggling Victoria's Secret brand, we think today's transaction will create shareholder value.
    2. Owning Bath & Body Works will be close to a pure-play.
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