Barclays upgraded Bath & Body Works to Equal Weight from Underweight with a price target of $43, up from $34. The company’s new categories and product launches reduce its promotional activity, the analyst tells investors in a research note. The firm says its channel checks for the first three weeks of Q1 “show an inflection to Better.” Bath & Body’s inventory content is fresh and turning faster, and new categories widen its total addressable market, contends Barclays.
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