Bath & Body Works price target lowered to $36 from $48 at Citi

Citi lowered the firm’s price target on Bath & Body Works to $36 from $48 and keeps a Buy rating on the shares after meeting with management. Given the uncertainty, the company provided few details around the impact of higher tariffs, the analyst tells investors in a research note. The firm says Bath & Body is doing more work regarding how much of its 80% domestic sourcing may be exposed to inputs sourced abroad. Citi cut estimates to account for the impact of higher tariffs and a weakening consumer.