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- Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on the shares of Victoria’s Secret & Co (NYSE:VSCO) with a price target of $35.00.
- The analyst said VSCO reported Q2 EPS above Street view, driven by tighter cost control as sales and gross margin came in below expectations.
- VSCO pointed to the increasing impact from macro/inflationary pressures in Q2, not unexpectedly, the analyst noted.
- As a result of the slowing topline environment, Victoria’s increased promotional activity, which the analyst expects, will weigh on margins going forward.
- The analyst thinks that persistent near-term headwinds continue to weigh and visibility to improvement remains challenging, despite VSCO's efforts to strengthen the business, including recent announcement on job cuts.
- Price Action: VSCO shares are trading lower by 0.82% at $38.03 on the last check Thursday.
- Photo Via Wikimedia Commons
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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