Citi Upgrades Bath & Body Works to 'Buy', Shares Rise in Pre-Market
Bath & Body Works (NYSE:BBWI) shares rose by 2.6% in pre-market trading after Citi upgraded the stock from Neutral to Buy, citing an improved risk-reward profile following a significant price decline post-earnings. The firm assigned a fair value of $31.24 per share, suggesting substantial upside potential. The upgrade comes ahead of Bath & Body Works' Q2 2026 earnings report scheduled for release before the market opens on Wednesday. With four Buy ratings now in place and others remaining at Hold, investor sentiment appears to be shifting positively. Additionally, the company recently announced a $0.20 per share quarterly dividend with an ex-dividend date of August 21. Despite broader weakness across U.S. equities—where the S&P 500 fell by 0.5% and Nasdaq dropped 1.3% in pre-market trading—the stock's rise was driven primarily by company-specific factors rather than market-wide trends.
Tickers: $BBWI
Topics: dividend announcement earnings anticipation stock upgrade