BofA lowered the firm’s price target on Victoria’s Secret (VSCO) to $35 from $40 and keeps an Underperform rating on the shares after the company announced holiday results at the high end of guidance and announced a CFO transition in addition to updated guidance. Now that a positive sales inflection and strong holiday are priced in, the firm lacks confidence in continued sales momentum and sees less margin upside from here, the analyst tells investors.
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