Barclays lowered the firm’s price target on Bath & Body Works to $37 from $50 but keeps an Overweight rating on the shares. The company’s Q3 results saw another margin-driven earnings beat but no sales recovery as revenue came in line, the analyst tells investors in a research note. There is little evidence of an inflection in sales, and the firm is concerned about persistent promos leading to “pantry-stocking”, Barclays added.
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