Barclays raised the firm’s price target on Bath & Body Works to $34 from $28 and keeps an Underweight rating on the shares. The company reported Q3 results that beat on sales and earnings, but gross margins missed due to the planned use of greater promotions, though the promos were successful in driving sales, the analyst tells investors in a research note. The firm says Bath & Body’s fiscal 2024 guidance was boosted for sales and earnings due to the Q3 beat, combined with continued momentum into Q4.
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