UBS upgraded Victoria’s Secret (VSCO) to Neutral from Sell with a price target of $47, up from $18. The firm now sees less risk to Victoria’s outlook and stock, saying the company’s turnaround is “gaining traction.” Victoria’s fundamentals continue improving, as evidenced by its North America’ Q3 comp sales inflection, the analyst tells investors in a research note. UBS also also believes market share pressures are subsiding given the company’s North America sales grew in Q3, outperforming the intimates industry.
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Read More on VSCO:
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- Victoria’s Secret price target raised to $50 from $40 at Telsey Advisory
- Victoria’s Secret price target raised to $45 from $35 at TD Cowen
- Wells cuts Victoria’s Secret to Equal Weight with turnaround largely priced in
- Victoria’s Secret upgraded to Neutral from Underweight at JPMorgan
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
