From “Sell” to “Smell the Roses”: Goldman Sachs Finds the Sweet Spot in Victoria’s Secret
Goldman Sachs bets on Victoria’s Secret’s comeback as management’s bold “Path to Potential” revives confidence and catwalk glamour.
Let's face it: in the cutthroat world of retail, where one bad collection can leave you exposed, Victoria's Secret & Co. has been playing catch-up. But hold onto your halos—Goldman Sachs just tossed the brand a lifeline, upgrading its stock (NYSE: VSCO) to Neutral from Sell and bumping the price target to $32 from $18. Announced on October 27, 2025, this move hints that the once-dominant lingerie giant might finally be turning heads for all the right reasons in a market that's as fickle as fashion itself.
The upgrade isn't just hot air; it's rooted in tangible progress under Victoria's Secret's fresh management team. Their "Path to Potential" strategy is like a wardrobe makeover on steroids, focusing on innovation, operational tweaks, and reigniting that elusive brand magic. Early wins include stronger consumer buzz for the core Victoria's Secret line and its millennial-magnet PINK brand, thanks to sharper products, less reliance on fire-sale discounts, and marketing that's actually hitting the mark. Analysts are betting this could halt the brand's market share slide, even with tariff clouds on the horizon, by padding margins and keeping shoppers coming back.

