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Why Victoria's Secret Stock Soared 20% Today

TheMotleyFool

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Why Victoria's Secret Stock Soared 20% TodayPhoto, wide shot, wide-angle lens, Fashion store, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/4103ce22-87d6-4bef-ba44-0baf5ab280bb.png

Shares of lingerie retailer Victoria's Secret (NYSE: VSCO) closed 20.1% higher on Monday after J.P. Morgan initiated coverage of the company with an overweight rating and a $100 price target.

Based on its 2023 estimates for earnings before interest, taxes, depreciation, and amortization (EBITDA), J.P. Morgan calculates that Victoria's Secret stock sells for a multiple below 3, StreetInsider.com said in a report on J.P. Morgan's note. But the average stock in the specialty retail sector trades for a 2023 EBITDA multiple of 6, more than twice that.

And yet, the analyst company says Victoria's Secret has the leading share of U.S. lingerie sales, at 20%, and a 30% share of the perfume market.

Source Fool.com

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