VSCO•Analysts said Victoria's Secret's annual fashion show highlighted improving brand momentum and its turnaround. Shares rose about 2% premarket and had gained about 61% year to date.
Barclays, J.P. Morgan and Morgan Stanley cited improving brand relevance, stronger merchandising and sales trends, and accelerating Gen Z demand. UBS said the show's return helped reconnect the brand with millennial consumers while reaching younger customers.
Victoria's Secret shares rose about 2% premarket and had gained about 61% year to date. The analysts' price targets ranged from $87 at UBS to $112 at Barclays; UBS rated the shares neutral, while the others rated them overweight.
