BBWI - Bath & Body Works gains after attracting bull rating from Cowen

Cowen upgraded Bath & Body Works (NYSE:BBWI) to an Outperform rating after having it slotted at Market Perform. The firm turned constructive on BBWI with a new analyst assigned coverage on the retailer. Cowen noted that BBWI is better off than many peers in terms of supply chain battles with about 80% of its sourcing from the U.S. "We like BBWI’s growth prospects relative to valuation and long-term advantages based on product innovation, customer retention, and efficient marketing spend," noted analyst Jonna Kim. On the macro front, the mall stock is given a strong chance to combat inflation headwinds. "BBWI also has a proven track record of navigating through macro challenges, and is well positioned to fare better in the current environment," added Kim. Shares of Bath & Body Works (BBWI) rose 1.91% in premarket trading to $53.90 to push back over the 50-day moving average. Bath & Body Works (BBWI)

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Bath & Body Works gains after attracting bull rating from Cowen