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Morgan Stanley raised the firm’s price target on Bath & Body Works to $49 from $48 and keeps an Overweight rating on the shares. The firm leaves the Q3 report, in which Bath & Body “unexpectedly” delivered topline upside on core product strength and subsequently raised fiscal year guidance, with “incremental conviction” in the company’s ability to deliver at least low-single digit percentage steady-state growth over time, the analyst tells investors.

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