L Brands, Inc. (NYSE:LB) shares are trading higher after JPMorgan maintained an Overweight rating and raised its price target from $93 to $100.
On Friday, the company announced that its Board of Directors approved the previously announced separation of the Victoria’s Secret business into an independent, publicly traded company.
L Brands is a women’s intimate, personal-care, and beauty retailer operating under the Victoria’s Secret, Pink, and Bath & Body Works brands.
L Brands’ stock was trading about 4.5% higher at $76.84 at the time of publication. The stock has a 52-week high of $77.87 and a 52-week low of $15.94.