Victoria’s Secret price target lowered to $37 from $40 at TD Cowen

TD Cowen lowered the firm’s price target on Victoria’s Secret (VSCO) to $37 from $40 and keeps a Hold rating on the shares. The firm expects Q4 beats across specialty retail but says guidance will likely be conservative. TD likes the setup for Bath & Body Works (BBWI) and says American Eagle’s (AEO) inexpensive valuation combined with a long-term financial update expected on earnings could be a positive catalyst.