BMO Capital analyst Simeon Siegel raised the firm’s price target on Bath & Body Works to $50 from $48 and keeps an Outperform rating on the shares. The company’s much better-than-expected gross margin, impressive EBIT expansion/beats, along with ongoing debt paydowns, suggest a turning busines, the analyst tells investors in a research note. BMO adds that the guidance by Bath & Body Works “will prove conservative”.
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