Jefferies analyst Corey Tarlowe attended Victoria’s Secret’s (VSCO) 2025 Fashion Show and came away “encouraged by the company’s strategic direction and product assortment,” the analyst tells investors. Despite tariff headwinds, the firm sees share gain potential with management leaning into newness across VS and PINK, notes the analyst, who adds that early reads show about 10M YouTube streams. The firm keeps a Buy rating and $35 price target on Victoria’s Secret’s, which are up about 1% to $30.59 in afternoon trading.
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