- Telsey Advisory Group analyst Dana Telsey reiterated Outperform rating on Bath & Body Works Inc (NYSE:BBWI) and lowered the price target to $40 from $60 (23% upside)
- The analyst said the company’s move in lowering Q2 guidance reflected a challenging macro environment and unprecedented inflation levels weighing on consumer sentiment and demand.
- Dana believes traffic trends have sequentially declined from Q1, and the management feels lower-income consumers are heavily impacted by inflation and have become more price sensitive.
- While the moderated outlook is somewhat disappointing, the analyst believes modest stock reaction is evidence that the market had already contemplated the potential softness.
- Dana noted that the company is poised for incremental growth with a solid pipeline of new launches planned in FY22 and increased investments in infrastructure and systems.
- Also Read: Why Bath & Body Works Stock Is Falling
- Baird analyst Mark Altschwager maintained Outperform rating on the company and lowered the price target to $40 from $50.
- B. Riley Securities analyst Susan Anderson reiterated a Buy rating and reduced the price target from $67 to $44 (35% upside).
- Morgan Stanley analyst Kimberley Greemberger maintained an Overweight rating and raised the price target to $66 (102% upside) from $64.
- BMO Capital analyst Simeon Siegel maintained an Outperform rating on the shares and lowered the price target to $45 from $65 (38% upside).
- Raymond James analyst Olivia Tong maintained a Strong Buy rating on the shares and lowered the price target to $43 from $45 (32% upside).
- Citigroup analyst Paul Lejuez maintained a Buy and reduced the price target from $54 to $42 (29% upside).
- Price Action: BBWI shares are trading higher by 4.87% at $32.61 on the last check Thursday.
Sportsman’s Warehouse And 3 Other Penny Stocks Insiders Are Buying
The Dow Jones closed higher by more than 100 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
