Citi analyst Paul Lejuez upgraded Bath & Body Works to Buy from Neutral with a price target of $48, up from $40. The firm cites the post-earnings share selloff for the upgrade. The stock closed down 13% Thursday to $35.86. After several years of sales and margin declines, the second half of 2024 inflected positively, and Bath & Body’s 2025 outlook calls for sales growth, the analyst tells investors in a research note. Citi believes solid execution, a strong innovation pipeline, and abating home fragrance headwinds will drive upside to the company’s sales outlook. It finds Bath & Body’s risk/reward attritive at current share levels.
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