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Victoria’s Secret price target lowered to $31 from $46 at BMO Capital

Victoria’s Secret price target lowered to $31 from $46 at BMO Capital

BMO Capital lowered the firm’s price target on Victoria’s Secret (VSCO) to $31 from $46 and keeps an Outperform rating on the shares after its Q4 results. The company reported a top-line miss with a bottom-line beat as North America comps grew a second straight quarter, though the management cited weakening trends in late-January to early-February, the analyst tells investors in a research note. Victoria’s Secret gross margin has materially improved, but it is still well below peer average in the high-40s%, the firm adds.

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