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Raymond James says Bathtub & Physique Works is oversold and can leap practically 70% from right here

Raymond James says Bathtub & Physique Works is oversold and can leap practically 70% from right here
Nagita Slavina 0 Comments 2 Minutes read

Bathtub & Physique Works seems like the most effective offers for traders within the retail class, in keeping with Raymond James. Analyst Olivia Tong initiated protection of the inventory with a robust purchase score, saying in a word to shoppers on Tuesday night that shares of Bathtub & Physique Works are oversold even when the U.S. economic system slows considerably. “Retail shares have been pummeled because the market assesses the extent of a possible slowdown, however even assuming a recession worse than that of 2008/2009, BBWI shares have been overly punished in our view,” Tong wrote. Raymond James set a worth goal of $45 per share, which is 67.5% above the place the inventory closed on Tuesday. Shares of BBWI are down greater than 61% yr so far, underperforming each the S & P 500 and the retail sector, as measured by the SPDR S & P Retail ETF . Bathtub & Physique Works got here into its present kind final yr, after the embattled L Manufacturers spun off Victoria’s Secret right into a standalone firm. The remaining enterprise ought to show to be a resilient retailer in an financial downturn, in keeping with Raymond James. “With BBWI’s buyer loyalty (57% repeat clients), a protracted historical past of accelerating spend (+70% from 2015-2020 to $111), and a constant tempo of innovation and bundle refreshes, we anticipate BBWI to be some of the constant development compounders within the Magnificence & Private Care area. Retail has develop into more difficult, significantly for firms like BBWI that benefited throughout the pandemic, however throughout the Nice Recession, BBWI comps turned unfavorable for lower than a yr,” Tong wrote. With the company cut up and inventory worth decline, Bathtub & Physique Works now has a market cap of roughly $6 billion. — CNBC’s Michael Bloom contributed to this report.

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