Morgan Stanley calls Victoria's Secret a 'credible turnaround story,' thinks stock can jump 65%

Victoria's Secret store at the main waiting area in Terminal 1 of Humberto Delgado Airport on April 19, 2017 in Lisbon, Portugal.
Horacio Villalobos | Corbis News | Getty Images

Victoria's Secret is set to begin trading as a stand-alone company Tuesday, and Morgan Stanley thinks the retailer could make a big comeback after years of declining sales.