UBS analyst Jay Sole raised the firm’s price target on Bath & Body Works to $52 from $46 and keeps a Neutral rating on the shares. Bath & Body’s “underwhelming” FY24 sales growth guidance suggests the company’s sales growth rate is taking longer to normalize post-Covid than the firm expected, the analyst tells investors in a research note. The guidance implies its sales growth rate will inflect to positive in 2H, which adds another element of risk, the firm says.
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