BofA lowered the firm’s price target on Bath & Body Works to $40 from $50 but keeps a Buy rating on the shares after its Q3 earnings beat but below-consensus Q4 outlook . The company’s new categories are performing well and the firm continues to expect the business to return to sales growth in FY24, the analyst tells investors in a research note. Bath & Body Works’ greater traffic pressures are also being partly offset by continued margin opportunities, the firm added.
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