Shares of L Brands fell nearly 5 percent Thursday as investors digested mixed first-quarter results.
The company posted first-quarter earnings per share of 59 cents on revenue of $2.61 billion on Wednesday. Analysts polled by Reuters expected Victoria's Secret' parent company to report earnings per share of 55 cents on revenue of $2.62 billion.
L Brands also lowered its full-year earnings guidance as sales continue to be weak.
At least five Wall Street analyst firms lowered their price target on L Brands shares, including MKM Partners, which also downgraded the stock to "neutral" from "buy."