BMO Capital analyst Simeon Siegel lowered the firm’s price target on Bath & Body Works to $50 from $52 but keeps an Outperform rating on the shares. The company’s Q2 top-line missed, but EPS beat sightly, boosted by another quarter of “strongly-better” gross margins, the analyst tells investors in a research note. Bath & Body Works management also guided Q3 sales above-consensus and EPS “conservatively” below, though investors may have feared further cuts, looking for an even lower guide as a “kitchen sink”, the firm added.
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Read More on BBWI:
- Slashed Sales Forecast Tanks Bath & Body Works Stock (NYSE:BBWI)
- Bath & Body Works narrows FY24 EPS view to $3.06-$3.26 from $3.05-$3.35
- Bath & Body Works sees Q3 EPS 41c-47c, consensus 53c
- Bath & Body Works reports Q2 adjusted EPS 37c, consensus 36c
- Notable companies reporting before tomorrow’s open
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