BJ’s Wholesale elevated to ‘Best-of-Breed Bison’ at DA Davidson

DA Davidson elevated BJ‘s Wholesale to the firm’s ‘Best-of-Breed Bison’ list while maintaining a Buy rating and $90 price target on the stock. BJ’s total addressable market is estimated at $875B for general merchandise and $985B for the food and beverage market, though the company has less than 1% share in the categories, the analyst tells investors in a research note. The firm notes that BJ’s has carved out a differentiated niche relative to other warehouse operators, catering to smaller families with more moderate incomes, adding that its positioning as a weekly shopping destination with a membership model will allow them to take share.