Analyst Ike Boruchow of Wells Fargo maintained a Buy rating on Bath & Body Works (BBWI – Research Report), retaining the price target of $44.00.
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Ike Boruchow’s rating is based on several positive developments at Bath & Body Works. The company’s first-quarter results showed an acceleration in both top-line and margin gains, driven by strategic leadership changes. The new CEO, Daniel Heaf, emphasized innovation and collaborations, such as the successful Disney partnership, as key drivers for future growth. Additionally, the company is focusing on enhancing digital capabilities and expanding its market presence, which are expected to contribute to its growth trajectory.
Despite challenges in the candle market, Bath & Body Works is optimistic about upcoming product launches and collaborations in the second half of the year. The company’s ability to absorb tariff impacts and its strategic investments in innovation and payroll further support the positive outlook. With these factors in mind, Boruchow sees the current valuation as attractive, reinforcing his Buy rating on the stock.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $37.00 price target.
BBWI’s price has also changed moderately for the past six months – from $36.240 to $28.580, which is a -21.14% drop .