Victoria’s Secret upgraded to Neutral at BofA on stronger earnings outlook

As previously reported, BofA analyst Lorraine Hutchinson upgraded Victoria’s Secret (VSCO) to Neutral from Underperform with a price target of $52, up from $21, after the company’s sales growth accelerated faster than expected, leading to better leverage. The firm’s raised multiple after the “strong quarter” reflects stronger sales momentum heading into the holiday season and better than expected tariff mitigation, the analyst tells investors.