B of A Securities Downgrades Victoria's Secret to Underperform, Lowers Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Alice Xiao downgraded Victoria's Secret (NYSE:VSCO) from Buy to Underperform and reduced the price target from $34 to $15, indicating a negative outlook on the company's stock.
March 08, 2024 | 1:58 pm
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Victoria's Secret downgraded from Buy to Underperform with a price target cut from $34 to $15 by B of A Securities.
The downgrade from Buy to Underperform by a major analyst, along with a significant reduction in the price target, suggests a bearish outlook on Victoria's Secret. This is likely to negatively impact investor sentiment and could lead to a decrease in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100