On June 3, Victoria's Secret fell 6.32% in regular trading, trading at $74.5/share with trading volume of $6.29 million. The decline follows the stock's approximately 48% surge the prior session after reporting blowout Q1 earnings.

On the news front, Jefferies downgraded Victoria's Secret from Buy to Hold while raising its price target from $65 to $73. UBS similarly downgraded from Buy to Neutral, adjusting its target from $81 to $90. Both banks raised price targets but simultaneously lowered ratings, signaling that the stock's valuation has already fully reflected the positive earnings surprise. The dual downgrades triggered profit-taking sentiment among investors following the massive one-day rally.

For context, Victoria's Secret reported Q1 adjusted EPS of $0.60, doubling the $0.30 consensus estimate, with revenue rising 15% year-over-year to $1.56 billion. The company also raised full-year revenue guidance to $7.03-7.13 billion and adjusted operating income guidance to $550-580 million. The stock's short interest stood at approximately 19% of float prior to the earnings release.

Victoria's Secret & Co. operates as a specialty retailer of women's intimate and other apparel and beauty products worldwide, offering products under the Victoria's Secret, PINK, and Adore Me brands through retail stores and digital channels.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)