Goldman Sachs downgraded BJ‘s Wholesale to Neutral from Buy with a price target of $73, down from $75. The analyst sees limited earnings upside to consensus estimates for fiscal 2024, and sees a full valuation at current share levels. The firm continues to favorably view BJ’s club model with long-term unit growth potential, but sees more compelling earnings growth opportunities at more attractive valuations within the broadline coverage at this point.
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