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.