Victoria’s Secret price target raised to $55 from $40 at Jefferies

Jefferies raised the firm’s price target on Victoria’s Secret (VSCO) to $55 from $40 and keeps a Buy rating on the shares after the company reported a Q3 beat and raise. Near-term top-line trends are partly pressured by macro-related headwinds, which may obscure underlying brand recovery efforts, says the firm. While Jefferies does not expect a linear recovery, it believes the long-term opportunity remains unchanged and that the company is “capable of restoring lost sales while recapturing margin,” the analyst tells investors.