UBS analyst Jay Sole says he’s "not bullish" on Victoria’s Secret’s turnaround potential after speaking with an expert who has "deep insight" into the company. Victoria’s has made good progress is some areas and has further opportunities in others, but there are also important ways the company needs to improve, Sole tells investors in a research note. The analyst does not believe Victoria’s Secret "is on a path to establish a clear, differentiated, and relevant brand positioning that will enable it to achieve durable" earnings growth. As such, he’s not bullish on the shares and keeps a Neutral rating on the name with a $43 price target.
Published first on TheFly
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