Goldman Sachs raised the firm’s price target on Victoria’s Secret to $17 from $15 but keeps a Sell rating on the shares. The analyst cites the company’s CEO transition and Q2 guidance raise amid better sales and profit trends said to be sequentially improving in North America for the fourth consecutive quarter, driven by both stores and digital. Margin outperformance at Victoria’s Secret was largely driven by improving product acceptance and stronger inventory management, the firm tells investors in a research note.
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