Morgan Stanley raised the firm’s price target on Victoria’s Secret (VSCO) to $27 from $20 and keeps an Equal Weight rating on the shares. The firm’s FY25 EPS forecast increased about 10% to $2.03, driven by Q2 outperformance, the analyst noted. Though the firm reduced its our out-year EPS estimates by about 10% as it “right-sizes” gross margin expectations to account for tariff headwinds, it notes that its forecasts remain about 15% above consensus on average.
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