JPMorgan analyst Matthew Boss upgraded Victoria’s Secret (VSCO) to Neutral from Underweight with a price target of $45, up from $29. Following recent leadership changes across management and merchandising functions, Victoria’s is beginning to realize topline growth improvement across both the namesake and PINK brands, the analyst tells investors in a research note. The firm says that while early in the turnaround, there remains a multi-year opportunity, with continued execution, to drive greater full-price selling to support gross margin expansion.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VSCO:
- Victoria’s Secret downgraded to Equal Weight from Overweight at Wells Fargo
- Victoria’s Secret price target raised to $44 from $31 at Morgan Stanley
- Victoria’s Secret price target raised to $51 from $25 at Barclays
- Victoria’s Secret Reports Improved Q3 2024 Results
- Victoria’s Secret price target raised to $55 from $40 at Jefferies