JP Morgan Downgrades Victoria's Secret to Underweight, Lowers Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Matthew Boss downgraded Victoria's Secret (NYSE:VSCO) from Neutral to Underweight and reduced the price target from $22 to $15, indicating a bearish outlook on the company's stock.
March 07, 2024 | 11:29 am
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Victoria's Secret downgraded by JP Morgan from Neutral to Underweight with a price target cut from $22 to $15.
The downgrade by a major financial institution like JP Morgan, accompanied by a significant reduction in the price target, typically signals a bearish outlook on the stock. This could lead to a decrease in investor confidence and a potential short-term decline in the stock price of Victoria's Secret.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100