- Raymond James analyst Olivia Tong initiated coverage on Bath & Body Works Inc BBWI with a Strong Buy rating and a price target of $45, implying a 68% upside.
- The analyst sees a long runway of growth ahead for the company, which the market has underappreciated.
- The analyst's optimistic view is supported by several factors, including solid cash generation, market shares in Personal Care & Home Fragrances, and a primarily domestic, vertically-integrated supply chain that allowed BBWI to cruise through logistics challenges.
- Square footage growth and optimization, loyalty program, and margins at the high end of peers help the company, noted Tong.
- Price Action: BBWI shares are trading lower by 0.19% at $26.81 on the last check Wednesday.
- Photo Via Company
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