$VSXY is priced like it's going to start an AI data center.Victoria's Secret & CompanyBATS:VSXYMerloClover-PugetPointCapitalVSXY $89.7 7/22/26 target $107 11/16/26 Target $70 3/11/27 Keeping it simple. - 15x PE = 34.20 - 20x PE = 45.6 - They've said tariffs stress their business well they've been going on for a year now so that will start hurting. - If tariffs fall off they still have to worry about logistics in a world with 80-100 WTI - MA looks a little extended. - Net Margins look like it's going to play out like it did pre 2024 - FCF weak for the current macro - Debt hasnt been paid down meaningfully before the FCF moved down - Total Rev you mean inflation? For a $100 share price at 15x P/E, $100 ÷ 15 = $6.67 in trailing-12-month EPS. current TTM $2.63 Earnings gap: $4.04/share, meaning EPS would need to rise about 154% from the current TTM level.