Barclays upgraded Victoria’s Secret (VSCO) to Overweight from Equal Weight with a price target of $53, up from $51. The company checks off three “critical fundamental catalysts,” the analyst tells investors in a research note. The firm says Victoria’s Secret had a positive promotional inflection this quarter, offers a sustainable positive comp inflection in fiscal Q3, and a positive sales-to-inventory spread. Further, Barclays believes Hillary Super is the right CEO to lead the company’s brand renewal.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VSCO:
- Victoria’s Secret placed on ‘Positive Catalyst Watch’ at JPMorgan
- Victoria’s Secret price target lowered to $40 from $44 at Morgan Stanley
- Victoria’s Secret selects Global-e Online to advance online operations
- eBay downgraded, GM upgraded: Wall Street’s top analyst calls
- Victoria’s Secret upgraded to Neutral from Sell at UBS