Jefferies Downgrades Bath & Body Works Inc. (BBWI) to Hold, 'we see limited growth opptys'

Jefferies analyst Ashley Helgans downgraded Bath & Body Works Inc. (NYSE: BBWI) from Buy to Hold with a price target of $30.00 (from $45.00).

The analyst comments "We are downgrading to Hold as we see limited growth opptys. Our data across social, foot traffic, & share suggest a slowing of trends for BBWI. We like the retailer, but product mix is not recession-resistant, price points are high, current trends in bodycare vary from BBWI's core offering, and we believe the co's sales levels still need to come off COVID highs. Promos continue to tick higher and will likely impact margins. Our model moves lower. PT = $30."

For an analyst ratings summary and ratings history on Bath & Body Works Inc. click here. For more ratings news on Bath & Body Works Inc. click here.

Shares of Bath & Body Works Inc. closed at $28.12 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
• Cantor Fitzgerald Downgrades Better Home & Finance Holding (BETR) to Neutral