Bath & Body Works price target raised to $38 from $32 at Wells Fargo

Wells Fargo raised the firm’s price target on Bath & Body Works to $38 from $32 and keeps an Equal Weight rating on the shares following quarterly results. While Bath & Body Works’ inflection is finally showing signs of materializing, the better top line comes at the expense of margin, the firm says. All in, better than feared with numbers going up, but the debate likely carries on, Wells adds.