Wells Fargo upgraded Bath & Body Works to Overweight from Equal Weight with a price target of $48, up from $42. 2025 is set to be a “stock pickers tape” for the Retailing, Specialty Softlines, and E-Commerce sector, driven by recovery dynamics and idiosyncratic setups. The firm is cautiously optimistic on top-line following a choppy 2024, as U.S. demand appears healthy and stable, and Europe also appears to be stabilizing. Wells is upgrading Bath & Body Works as it has finally worked through some post-Covid overhang and is now inflecting to growth with valuation upside.
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