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Victoria’s Secret & Co has been upgraded to "neutral" from "sell" by UBS, reflecting confidence in its turnaround under new CEO Hillary Super. The investment bank raised its price target to $47, citing a 3% year-on-year sales recovery in North America and projected steady growth through 2025, despite potential post-holiday challenges and competition. Meanwhile, Wells Fargo downgraded the stock to "equal weight," noting limited upside after a significant rally this year.
Victoria’s Secret & Co has been upgraded to "neutral" from "sell" by UBS, reflecting confidence in its turnaround under new CEO Hillary Super. The investment bank raised its price target to $47, citing a 3% year-on-year sales recovery in North America and projected steady growth through 2025, despite potential post-holiday challenges and competition.
Victoria’s Secret & Co has been upgraded to "neutral" from "sell" by UBS, reflecting confidence in its turnaround under new CEO Hillary Super. The investment bank raised its price target to $47, citing a 3% year-on-year sales recovery in North America and projected steady growth through 2025, despite potential post-holiday challenges and competition. Meanwhile, Wells Fargo downgraded the stock to "equal weight," noting limited upside after a significant rally this year.
UBS has upgraded its rating on Victoria's Secret (NYSE:VSCO) from Sell to Neutral following a positive Q3 report that indicates a turnaround in comparable sales. Analyst Mauricio Serna expressed confidence in the CEO's strategy to regain appeal among millennials.
Victoria's Secret & Co. is a specialty retailer offering intimate apparel, sleepwear, loungewear, swimwear, and beauty products under the Victoria's Secret, PINK, and Adore Me brands. The Victoria's Secret line includes a variety of lingerie and casual wear, while PINK targets young women with trendy items. Adore Me focuses on providing lingerie and apparel for women of all sizes and budgets, available online and in select stores.
US stocks reached all-time highs following positive jobs data, with the S&P 500 on track for its best annual return since 2019. The labor market remains stable, supporting expectations for a Federal Reserve rate cut in December, while inflation data next week will be crucial for future policy decisions. Corporate highlights include Lululemon's significant stock gain, DocuSign's revenue forecast boost, and Victoria's Secret raising its outlook after strong sales.
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Victoria's Secret upgraded by UBS as turnaround shows positive signs
19:56 10.12.2024
Victoria's Secret upgraded by UBS as turnaround shows positive signs
19:56 10.12.2024
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