Bath & Body Works price target raised to $55 from $50 at BMO Capital

BMO Capital raised the firm’s price target on Bath & Body Works to $55 from $50 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company is progressing exactly as one would hope a turn would look, providing more comfort in the outlook for the second half and further improvement, the analyst tells investors in a research note. The results continue to suggest that Bath & Body Works is under-earning and that its valuation trough should increase into the double-digit earnings multiple range, the firm added.