Barclays analyst Adrienne Yih raised the firm’s price target on Victoria’s Secret (VSCO) to $51 from $25 and keeps an Equal Weight rating on the shares following the Q3 report. The company reported results that beat on adjusted earnings, driven by spending leverage, partially offset by lower gross margin, the analyst tells investors in a research note. The firm says Victoria’s sales came in ahead of consensus, with strength in both North America and international. However, Barclays notes the company’s margins remain pressured on heightened promotions and transportation costs.
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