Victoria’s Secret price target lowered to $26 from $29 at BMO Capital

BMO Capital lowered the firm’s price target on Victoria’s Secret to $26 from $29 and keeps an Outperform rating on the share after its Q4 results. Shares fell post-market with Q1 revenue outlook below consensus and due to materially below-Street EBIT in both guided periods, the analyst tells investors in a research note. While the gross margin outlook may prove “conservative”, It seems difficult to call the top-line inflection, which will likely be necessary for most investors, the firm added.