Barclays upgraded Victoria’s Secret (VSCO) to Overweight from Equal Weight with a price target of $53, up from $51. The company checks off three “critical fundamental catalysts,” the analyst tells investors in a research note. The firm says Victoria’s Secret had a positive promotional inflection this quarter, offers a sustainable positive comp inflection in fiscal Q3, and a positive sales-to-inventory spread. Further, Barclays believes Hillary Super is the right CEO to lead the company’s brand renewal.
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