Victoria’s Secret price target raised to $20 from $19 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Victoria’s Secret (VSCO) to $20 from $19 and keeps an Equal Weight rating on the shares. Fiscal year EPS guidance was lowered entirely due to tariffs and is “potentially not fully de-risked,” but Q2 guidance appears “fair/possibly beat-able,” says the analyst, who leaves the report “incrementally positive” given the strategy commonalities with successful turnarounds and management’s “enhanced understanding of the evolved intimates industry.” Still, a turnaround “likely takes some time,” keeping the firm at Equal Weight for now, the analyst added.