JPMorgan Downgrades Victoria's Secret (VSCO) to Neutral

(Updated - December 1, 2022 5:43 AM EST)

JPMorgan analyst Matthew R. Boss downgraded Victoria's Secret (NYSE: VSCO) from Overweight to Neutral with a price target of $43.00 (from $51.00).

The analyst comments "While VSCO is the leading market share player in US lingerie (~20% share) and women’s mass fragrance (~30% share) categories, and has outlined structural cost reductions of ~$250M over the next 3-yrs - top-line growth & gross profit dollars have declined sequentially tied to an increasingly cautious macro-economic backdrop, hindering the brand’s growth & profitability profile. We rate VSCO Neutral."

For an analyst ratings summary and ratings history on Victoria's Secret click here. For more ratings news on Victoria's Secret click here.

Shares of Victoria's Secret closed at $46.00 yesterday.

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