Victoria's Secret downgraded as turnaround story fully priced in—BofA Securities

Detailed summary

BofA analysts rate Victoria’s Secret a Neutral with a $112 target after a 214% rally, saying its turnaround is played out and profit upside is limited.

After a 214% appreciation in the share price of Victoria’s Secret (VSXY) from last year, BofA Securities analysts Mary Sport and Lorraine Hutchinson see the turnaround story as “played out” and view the stock as appropriately priced given the current multiple and

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