UBS raised the firm’s price target on Victoria’s Secret (VSCO) to $60 from $46 and keeps a Buy rating on the shares. The company’s management is successfully repositioning its Victoria’s Secret and PINK brands, with the beat and raise Q3 report reinforcing the firm’s conviction that the turnaround playbook is working, which should lead to sustained comp sales growth and operating margin recapture, the analyst tells investors in a research note.
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