Victoria’s Secret New Leadership Is Steering Brand Back To Core Values, Analyst Upgrades Stock
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Victoria’s Secret & Co. (NYSE:VSCO) shares are trading higher on Wednesday. Barclays analyst Adrienne Yih upgraded Victoria’s Secret to Equal Weight from Underweight and raised the price target to $25 from $23.
The analyst writes that the company has moved past its most challenging period. Despite a significant loss of market share in recent years, VSCO still holds around 20% of the U.S. intimate market.
The analyst says that they are more positive about the company due to the new management team’s industry experience, the second-half of FY24 guidance surpassing consensus expectations, a return to core brand values with new product innovations, and an anticipated recovery in …
Full story available on Benzinga.com
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