Wells Fargo Maintains Equal-Weight Rating for Bath & Body Works: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wells Fargo has maintained its Equal-Weight rating on Bath & Body Works (NYSE:BBWI) and increased its price target from $35.00 to $40.00. Despite this, BBWI shares are currently trading down at $43.40, which is above the new target price. Bath & Body Works operates primarily in North America with a focus on home fragrance and body care retail, expecting growth through store reformatting and digital expansion.
December 22, 2023 | 5:00 pm
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Wells Fargo maintains an Equal-Weight rating on BBWI and raises the price target to $40.00, indicating a potential downside from the current price of $43.40.
The new price target from Wells Fargo suggests that BBWI is currently overvalued, which could lead to a negative short-term impact on the stock price as the market adjusts to the analyst's valuation. However, the confidence in the impact is not absolute due to market dynamics and other factors that could influence the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100