Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Victoria’s Secret (VSCO) to $40 from $50 and keeps a Market Perform rating on the shares. While the retirement and replacement of CFO Timothy Johnson does not come a surprise, any transition comes with some level of risk, the analyst tells investors. Additionally, the firm lowered its price target on the stock given concerns of a softer holiday relative to peers as well as the potential for a more conservative outlook for the new management to operate against.
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