BMO Capital Starts Bath & Body Works Inc. (BBWI) at Market Perform
BMO Capital analyst Kelly Crago initiates coverage on Bath & Body Works Inc. (NYSE: BBWI) with a Market Perform rating, PT $20.00.
The analyst comments "We initiate with a Market Perform rating and $20 target price. We view new CEO Daniel Heaf's "Consumer First Formula" plan as credible, and early wins, like the Hilary Duff Fruit Fusion launch, show the product engine can work. But FY26 marks the fifth straight year of sales declines, and we think righting the ship will take more time and investment, pressuring margins into FY27. With cannibalization risk from the wholesale push and low visibility into a sales/margin inflection, we'd rather wait for more evidence before we consider being constructive."
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Shares of Bath & Body Works Inc. closed at $19.51 yesterday.