Victoria’s Secret price target raised to $53 from $45 at BMO Capital

BMO Capital analyst Simeon Siegel raised the firm’s price target on Victoria’s Secret to $53 from $45 and keeps an Outperform rating on the shares. The analyst cites the company’s Q3 earnings beat and the management flagging improving traffic/conversion over the Black Friday/Cyber Monday period. Siegel adds that while Victoria’s Secret’s gross margin has materially improved, it is still "well below peer average".