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Personal Care Chain Bed & Body Works
Customers shop at a Bath & Body Works store in Hayward, California (Justin Sullivan/Getty Images)

Bath & Body Works shares shine after a boost from JPMorgan

JPMorgan gives a new price target of $47, nearly 30% above the stock’s recent trading levels.

Nia Warfield

Bath & Body Works shares jumped nearly 8% after Wall Street gave the fragrance company a fresh dose of optimism. JPMorgan analyst Matthew Boss raised the stock’s rating from neutral to overweight. Also part of the upgrade was a new price target of $47 for the stock, nearly 30% above its recent trading levels. Boss said the company’s revenue and earnings could be at a turning point, in part due to new collaboration opportunities and other initiatives.

The report also highlighted Bath & Body Works’ strong free cash flow and plans to allocate $1.7 billion in share repurchases through 2025 and 2026. The stock has been on a run lately, gaining 24% over the past three months, but it’s still down 14% over the past 12 months.

Bath & Body Works is set to report its fourth-quarter earnings on February 28.

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