- Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on the shares of Victoria’s Secret & Co (NYSE:VSCO) with a price target of $35.00.
- The analyst said VSCO reported Q2 EPS above Street view, driven by tighter cost control as sales and gross margin came in below expectations.
- VSCO pointed to the increasing impact from macro/inflationary pressures in Q2, not unexpectedly, the analyst noted.
- As a result of the slowing topline environment, Victoria’s increased promotional activity, which the analyst expects, will weigh on margins going forward.
- The analyst thinks that persistent near-term headwinds continue to weigh and visibility to improvement remains challenging, despite VSCO’s efforts to strengthen the business, including recent announcement on job cuts.
- Price Action: VSCO shares are trading lower by 0.82% at $38.03 on the last check Thursday.
- Photo Via Wikimedia Commons
Ocean Power Technologies Q1 EPS $(0.10) Down From $(0.06) YoY, Sales $714.00K Up From $272.00K YoY
Ocean Power Technologies (AMEX:OPTT) reported quarterly losses of $(0.10) per share. This is a 66.67 percent decrease over losses of $(0.06) per share from the same period last year. The company reported $714.00
