BUZZ-Fashion show, new CEO to drive improved results at Victoria's Secret, analysts say

Reuters
2024/10/17

** Brokerage BMO raises PT on Victoria's Secret to $33 from $29, says ongoing earnings growth should lift numbers as future potential would boost valuation

** VSCO's new CEO Hillary Super met with analysts on the heels of its popular annual runway show that returned after a six-year hiatus on Oct. 15

** TD Cowen notes the fashion show will likely create higher brand buzz in the near term, maintains $26 in PT

** "In our view, the show appears to be more successful in terms of being culturally relevant than the prior year event" - TD Cowen

** Jefferies believes CEO's turnaround efforts could help drive sales and margins higher over time, even as North American lingerie market remains pressured

** Barclays says management working to make brand more consumer-focused and less driven by promotions that could ultimately return it to profitable growth

** Stock up 6% YTD, as of last close

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))

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