Citi raised the firm’s price target on Bath & Body Works to $42 from $36 and keeps a Buy rating on the shares. The company preannounced a Q21 earnings beat on stronger gross margins with a new CEO that is focused on accelerating growth and margin expansion through faster innovation, the analyst tells investors in a research note. Citi views the new CEO’s mandate to accelerate growth as a “big positive” and sees the stock’s risk/reward as attractive into the Q1 report.
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