** Shares of beauty and skincare firm Bath & Body Works BBWI.N rise 2.3% to $37.81 premarket

** Brokerage Wells Fargo upgrades stock to "overweight" from "equal weight" and raises PT to $48 from $42

** Candles and sanitizers segments are back to normal levels of sales growth following steady decline - brokerage

** Brokerage sees significant opportunity within the innovation pipeline and customer response to newness

** There is much more "room to run" in newer adjacent categories including men's segment, lip and laundry as they are bringing in new customers while awareness remains low - brokerage

** 11 of 19 brokerages rate the stock "buy" or higher, seven "hold" and one "sell"; median PT is $43.59 - LSEG data

** BBWI fell ~10% last year

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com))