BJ’s Wholesale price target lowered to $69 from $72 at Morgan Stanley

Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on BJ‘s Wholesale to $69 from $72 and keeps an Equal Weight rating on the shares. The firm’s view on BJ’s is “balanced but leans slightly cautious,” says the analyst, who calls the company’s FY23 guidedown “no worse than feared.” However, decelerating fundamentals and risk to FY24 will “likely cap near-term stock upside,” the analyst contends.