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Baird analyst Mark Altschwager maintains Bath & Body Works (NYSE:BBWI) with a Neutral and lowers the price target from $25 to $23.
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U.S. stocks mixed, Nasdaq falls 0.1%. Gap Inc shares rise 15.2% on strong earnings and raised guidance. Other big gainers include Elastic NV, Solstice Advanced Materials Inc, and Pagerduty Inc.
Bath & Body Works (BBWI) exceeded Q2 earnings and sales expectations with adjusted EPS of 62 cents (vs. 24 cents consensus) and net sales of $1,514 million. The company returned to direct sales growth for the first time since 2021, benefiting from improved digital conversion and expanded distribution. BBWI raised its FY'26 adjusted EPS guidance to $2.60-$2.80 and free cash flow to $650 million, driving shares up 7.5%.
Barclays analyst Adrienne Yih maintains Bath & Body Works (NYSE:BBWI) with a Equal-Weight and lowers the price target from $23 to $22.