Ad previously reported, Wells Fargo analyst Ike Boruchow downgraded Victoria’s Secret (VSCO) to Equal Weight from Overweight with a price target of $45, up from $33. The firm applauds the changes being made at Victoria’s Secret, including new leadership, rebranding, and merchandising. That said, following a material rally this year, shares now reflect the majority of the upside potential, and Wells moves to the sidelines.
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Read More on VSCO:
- Victoria’s Secret upgraded to Neutral from Underweight at JPMorgan
- Victoria’s Secret downgraded to Equal Weight from Overweight at Wells Fargo
- Victoria’s Secret price target raised to $44 from $31 at Morgan Stanley
- Victoria’s Secret price target raised to $51 from $25 at Barclays
- Victoria’s Secret Reports Improved Q3 2024 Results