These Analysts Boost Their Forecasts On Bath & Body Works Following Q4 Results
Portfolio Pulse from Avi Kapoor
Bath & Body Works, Inc. (NYSE:BBWI) reported Q4 earnings above analyst expectations but provided a FY24 outlook below estimates, leading to a 5.4% drop in shares. The company announced a new $500 million share repurchase program. Analysts from Telsey Advisory Group and Evercore ISI Group raised their price targets on BBWI despite the disappointing outlook.
March 01, 2024 | 12:18 pm
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NEGATIVE IMPACT
Bath & Body Works reported higher-than-expected Q4 earnings but a weaker FY24 outlook, announced a $500M share buyback, and saw a 5.4% share price drop.
The negative FY24 outlook and the subsequent share price drop indicate a short-term bearish impact. However, the share repurchase program and increased analyst price targets could provide some support.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100