We are reiterating our Buy rating, $20 price target and projections for Lands’ End after meeting with company management at the 2026 ICR Conference. We believe Lands’ End will amply demonstrate in 2026 the growing strength of their business model, with key licenses anniversaried, continued strong evolution in the core catalog business and further new contracts for the Outfitters business, with top line expansion emerging and continued margin expansion on tap. As such, we believe Lands’ End is one of the best positioned plays in the specialty retailing universe, and we reiterate our Buy rating and $20 price target for LE.
