Goldman Sachs analyst Brooke Roach upgraded Victoria’s Secret (VSCO) to Neutral from Sell with a price target of $32, up from $18. The company is under new management and implemented several initiatives under its “Path to Potential” strategy, which have driven stronger brand relevance and consumer engagement with both the Victoria’s Secret and PINK banners, the analyst tells investors in a research note. Goldman sees the company’s strengthening execution to drive a sustained improvement in brand momentum and stabilize market share losses.
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