Victoria’s Secret price target lowered to $25 from $30 at BofA

BofA lowered the firm’s price target on Victoria’s Secret to $25 from $30 and keeps a Buy rating on the shares. The company’s Q2 results were “mostly in line” and the guidance for Q3 was weighed down by elevated marketing, the analyst tells investors. BofA is “encouraged” by multiple opportunities to drive sales in the second half of the year, but is lowering its price target to reflect a slightly more cautious 2H sales forecase.