Bath & Body Works Inc. (BBWI) PT Lowered to $38 at TD Cowen

TD Cowen analyst Jonna Kim lowered the price target on Bath & Body Works Inc. (NYSE: BBWI) to $38.00 (from $48.00) while maintaining a Buy rating.

The analyst comments "BBWI is more of a 2H story, and we expect a mixed print as management will likely build in conservatism in guidance. 2Q25 will likely beat but 3Q25 outlook could be in line to below Street, and we think FY25 guide will be reiterated given uncertainty. We note relatively minimal tariff exposure vs. peers & newness is expected to flow through in 2H25. Category data appear sequentially positive."

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