Bath & Body Works price target raised to $39 from $36 at Piper Sandler

Piper Sandler raised the firm’s price target on Bath & Body Works to $39 from $36 and keeps a Neutral rating on the shares. Heading into the new year, the firm is watching the impact of rates and lending standards across its coverage, as well as the influence of the new administration, including tax policy, potential tariffs, and appointee beliefs. Piper believes it’s prudent to favor GARP and value with a strong focus on fundamentals, but does feel comfortable paying a bit of a higher price if those fundamentals align.