J.P. Morgan Raises PT On LTD To $40

J.P. Morgan has raised its price target on Limited Brands Inc. LTD from $35 to $40 and maintains an overweight rating after meeting with management. In the report, J.P. Morgan writes, “over the next 3-5 years the bull case still ahead of us is that the company could buy back 30-40% of its market cap, add a few billion in high-margin International sales, grow its domestic business by a few billion, while contemplating additional special dividends and raising the rate of its annual dividend.” LTD closed at $37.16 yesterday.