Barclays lowered the firm’s price target on Victoria’s Secret (VSCO) to $23 from $38 and keeps an Overweight rating on the shares. The firm’s Q1 promotion tracker for retailers shows sector-wide “flat” promos year-over-year. However, earnings risk in the second of the year is building as inventory dollars are growing, demand risk is rising, and price increases and margin pressure begin in June and July, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VSCO:
- Victoria’s Secret put volume heavy and directionally bearish
- Victoria’s Secret price target lowered to $19 from $23 at Morgan Stanley
- Nvidia initiated, Starbucks downgraded: Wall Street’s top analyst calls
- Victoria’s Secret downgraded to Underweight from Equal Weight at Wells Fargo
- Victoria’s Secret price target lowered to $15 from $19 at Goldman Sachs