JPMorgan analyst Matthew Boss reiterated an Overweight rating and $110.00 price target on Victoria Secret (NYSE: VSXY).

The analyst commented, "On +10.4% 2Q revenue growth (vs. mgmt’s +9-11% guidance) - mgmt cited two headwinds that impacted the quarter vs. internal plan constraining outperformance (vs. +435bps TTM outperformance against mgmt’s midpoint): Semi-AnnualSale: SAS was negatively impacted by reduced discount rates YOY in addition to less inventory on hand for the sale YOY notably during the second half of the sale period (following 1H SAS outperformance vs. plan) w/ World Cup and Prime Day timing negatively impacting overall mall traffic."

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Shares of Victoria Secret closed at $73.64 yesterday.