BJ’s Wholesale price target lowered to $75 from $77 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on BJ‘s Wholesale to $75 from $77 and keeps a Hold rating on the shares ahead of the Q1 report. The analyst acknowledges softer macro data points and increasingly value-seeking behavior, but thinks the recent share price weakness among the retailers is overdone on fears around low-end weakness, especially for dollar stores. The firm continues to observe a rational pricing environment in grocery and says Walmart’s price gaps “remain steady.”