J.P. Morgan Raises Estimates on Limited Brands

J.P. Morgan has published a report on Limited Brands LTD, which raised estimates for earnings per share and earnings before income tax. In the report, J.P. Morgan writes, "Longer term, management believes the International potential is to have sales outside the US “equal to or greater than” business generated domestically. (And they still believe they can add another $5 billion to their domestic sales base). LTD is slowly but surely diversifying itself away from the domestic market, and with a 2012 Victoria's Secret London flagship set to open in early 2012 (and likely to expand in the UK upon proven success there) we feel LTD is a good way that investors can participate in a very early-stage International growth story." J.P. Morgan gives Limited Brands an Overweight rating with a price target of $48.00. Limited Brands closed yesterday at $39.54.