Telsey Advisory raised the firm’s price target on Victoria’s Secret (VSCO) to $45 from $29 and keeps a Market Perform rating on the shares. The company’s momentum continued for the first half of the year, with Victoria’s Secret experiencing healthy earnings beat in Q2, the analyst tells investors. While the company’s strategies are beginning to “bear fruit,” the firm believes work remains to be done to reposition the brand in a highly competitive, low growth category in a challenging operating environment.
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