Why Victoria's Secret Shares Are Rising Today

Victoria’s Secret & Co VSCO is trading significantly higher Thursday after the company announced better-than-expected third-quarter earnings results.

Victoria's Secret reported quarterly earnings of 81 cents per share, which beat the estimate of 71 cents per share. The company reported quarterly revenue of $1.44 billion, which came in below the estimate of $1.46 billion.

Victoria's Secret expects fourth-quarter earnings to be in a range of $2.35 to $2.65 per share versus the estimate of $2.80 per share.

"We continue to monitor global supply chain issues and believe our close partnerships with our vendors and our work to get ahead of the curve will help mitigate those challenges. Looking ahead, the leadership team and I believe we have the right strategy and a dedicated team focused on driving long-term growth and creating value for our shareholders," said Martin Waters, CEO of Victoria's Secret.

• Telsey Advisory Group analyst Dana Telsey maintained Victoria's Secret with a Market Perform rating and lowered the price target from $73 to $60.
• Wells Fargo analyst Ike Boruchow maintained Victoria's Secret with an Overweight rating and lowered the price target from $90 to $85.

Related Link: Expert Ratings For Victoria's Secret

VSCO Price Action: Victoria's Secret was up 15.70% at $58.45 at time of publication.

Photo: courtesy of Victoria's Secret.