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- Raymond James analyst Olivia Tong initiated coverage on Bath & Body Works Inc (NYSE:BBWI) with a Strong Buy rating and a price target of $45, implying a 68% upside.
- The analyst sees a long runway of growth ahead for the company, which the market has underappreciated.
- The analyst's optimistic view is supported by several factors, including solid cash generation, market shares in Personal Care & Home Fragrances, and a primarily domestic, vertically-integrated supply chain that allowed BBWI to cruise through logistics challenges.
- Square footage growth and optimization, loyalty program, and margins at the high end of peers help the company, noted Tong.
- Price Action: BBWI shares are trading lower by 0.19% at $26.81 on the last check Wednesday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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