Victoria’s Secret price target raised to $24 from $20 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Victoria’s Secret to $24 from $20 and keeps a Market Perform rating on the shares. Despite a challenging North American retail environment, investments in the digital customer experience and traffic-driving promotions helped drive sales, the analyst tells investors. While the company reported a “solid start” to FY24, Victoria’s Secret maintained its annual sales guidance, reflecting a still challenging North American intimates market that remains promotional and pressured in the near term.