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Why Bath & Body Works, Inc. (BBWI) Surged on Monday

We recently published an article titled Why Traders Flocked to These 10 Stocks on Monday. In this article, we are going to take a look at where Bath & Body Works, Inc. stands against the other stocks.

The stock market kicked off the trading week on a mixed note, with two major indices ending in the green, as investors continued to digest more corporate earnings results.

Among the bellwether indices, only the Nasdaq ended in the red, dropping 0.10 percent. In contrast, the Dow Jones grew by 0.28 percent and the S&P 500 inched up by 0.06 percent.

Meanwhile, 10 companies mirrored a broader market optimism, as investors snapped up shares ahead of their first-quarter earnings performance in the next few days.

To come up with the list, we considered only the companies with a $2-billion market capitalization and $5-million trading volume.

A female customer browsing a variety of body care products in a retail store.

Bath & Body Works, Inc. (NYSE:BBWI)

Bath & Body Works, Inc. saw its share prices grow by 5.54 percent on Monday to end at $31.22 apiece as investors took shares amid the lack of fresh catalysts to spark buying.

Despite the potential impact of the US-China trade war, Bath & Body Works, Inc. still earned a rating upgrade of Overweight from Piper Sandler recently, saying that, along with Inter Parfums, it was well-positioned to benefit from the increasing demand in the fragrance category.

JPMorgan also maintained its Overweight rating for Bath & Body Works, Inc. despite lowering its price target to $41 from $47 previously, saying that the company still has the potential to outperform average market returns.

Bath & Body Works, Inc. forecasts annual sales to be largely below expectations as it grapples with uncertainties in consumer spending due to the US-China trade war.

According to the company, the majority of its products are produced in the US, but it sources components from other countries.


 

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This article is originally published at Insider Monkey.