WASHINGTON (dpa-AFX) - Shares of L Brands Inc. (LB) have pulled back well off their best levels of the day but remain notably higher in late-day trading on Monday. After reaching a five-month intraday, L Brands is currently up by 1.4 percent.
L Brands initially showed a strong move to the upside after Wells Fargo upgraded its rating on the Victoria's Secret parent's stock to Outperform from Market Perform.
Wells Fargo suggest L Brands could be on the verge of a massive turnaround, noting the company 'appears set to begin embracing change with an 'all options on the table' mentality.'
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