JPMorgan analyst Matthew Boss downgraded Victoria’s Secret to Neutral from Overweight with a price target of $43, down from $51. The company’s sales growth and gross profit dollars have declined sequentially and are tied to an "increasingly cautious macro-economic backdrop," Boss tells investors in a research note. He sees the economic environment hindering Victoria’s Secret’s growth and profitability profile.
Published first on TheFly
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- Victoria’s Secret sees FY22 EPS $4.50-$4.95, consensus $4.73
- Victoria’s Secret sees Q4 EPS $2.00-$2.45, consensus $2.32
- Victoria’s Secret reports Q3 EPS 29c, consensus 23c
- Victoria’s Secret & Co. Reports Third Quarter 2022 Results
- Victoria’s Secret options imply 8.4% move in share price post-earnings
