Piper Jaffray Favors Limited Brands (LTD)

Piper Jaffray favors Limited Brands, Inc. LTD going into the holiday season. It has a $35 price target on shares and an Overweight rating. In a note sent to clients, Piper Jaffray states, "We continue to favor the women's apparel retailers that cater to the higher-end of the economy: including LTD and JWN. We believe LTD was a clear winner based on our store checks in each of their two mega brands—Victoria's Secret and Bath & Body Works—leading us to believe LTD ended on a solid note this month. While Nordstrom is not a promotional retailer, we note that this retailer has been gaining momentum on a two-year same-store sales basis." Shares of LTD lost 3 cents on Friday to close at $33.75.