Jefferies lowered the firm’s price target on Victoria’s Secret (VSCO) to $26 from $28 and keeps a Buy rating on the shares. The company delivered a solid Q2, beating both top- and bottom-line guidance, with signs of accelerating momentum into the back half, the analyst tells investors in a research note. The firm added that while macro and tariff pressures persist, management’s strategic execution and product innovation and driving improved traffic and margin performance, That said, Jefferies is lowering its numbers and price target slightly, given the Q2 bottom-line beat did not flow through on the guide due to higher tariff expectations.
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