UPDATE: JPMorgan Downgrades Bath & Body Works Inc. (BBWI) to Neutral

June 29, 2022 3:43 AM EDT
Get Alerts BBWI Hot Sheet
Price: $36.04 --0%

Rating Summary:
    11 Buy, 2 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 29 | New: 1
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(Updated - June 29, 2022 4:21 AM EDT)

JPMorgan analyst Matthew Boss downgraded Bath & Body Works Inc. (NYSE: BBWI) from Overweight to Neutral with a price target of $30.00 (from $63.00).

The analyst comments "We rate BBWI Neutral. The combination of (i) moderating same-store-sales relative to pre-pandemic +high-single-digit comp growth, (ii) ongoing separation-related SG&A investments, and (iii) AUR pressure as the model returns to a normalized cadence of promotions present potential earnings headwinds, while BBWI's long-term algorithm including a +MSD EPS contribution from share repurchases, balances our Neutral rating."

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 $29.00 yesterday.

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