BofA Downgrades Victoria's Secret After "Brand Turnaround Has Played Out"

Summary

BofA Downgrades Victoria's Secret After "Brand Turnaround Has Played Out" Victoria's Secret shares dropped the most in two months in the cash session after Bank of America analysts downgraded the stock from Buy to Neutral, warning clients earlier this morning of " limited EPS upside from here ." "With the stock up meaningfully YTD, our thesis of upward estimate revisions driven by the brand turnaround has played out , and we are downgrading from Buy to Neutral ," BofA retail analyst Mary Sport wrote in the report. More or less, with the stock up 25% over the past month, compared with a 2%…

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