BofA analyst Lorraine Hutchinson raised the firm’s price target on Victoria’s Secret to $18 from $15 and keeps an Underperform rating on the shares. Victoria’s Secret named Hillary Super as CEO, succeeding Martin Waters who will remain at the company as an advisor through August 31, the analyst tells investors in a research note. The firm views Super’s merchandising and turnaround experience as a positive for Victoria’s Secret, but think intimates category challenges will make turning sales positive a difficult task.
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