Noor Ul Ain Rehman
2 min read
On June 5, Barclays analyst Adrienne Yih slashed the firm's price target on Victoria's Secret & Co. (NYSE:VSCO) to $22 from $23 while keeping an Overweight rating on the shares.
The rating followed the company's announcement of a new release date for its fiscal Q1 2025 results after a security incident over the Memorial Day weekend caused a temporary shutdown of the company's websites, corporate systems, and apps, thereby delaying the earnings release.
A middle aged woman in a boutique trying on intimate products.
The analyst told investors in a research note that Victoria's Secret & Co.'s (NYSE:VSCO) preliminary fiscal Q1 2025 results were near or above the high end of its previous guidance ranges.
The firm, however, also reasoned that although the company has provided an update on the recent security incident, which has not caused a material disruption to its operations to date, the incident may negatively impact its fiscal Q2 2025 results, warranting a cautious stance.
Victoria's Secret & Co. (NYSE:VSCO) is a women's intimates, apparel, and beauty products retailer. It operates under the Victoria's Secret, Victoria's Secret PINK, and Adore Me brands. The company's product offerings include sleepwear, loungewear, swimwear, athleisure, lingerie, prestige fragrances, and body care.
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Disclosure: None.
