Victoria’s Secret downgraded to Neutral from Overweight at JPMorgan
The Fly

Victoria’s Secret downgraded to Neutral from Overweight at JPMorgan

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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