BJ’s Wholesale price target lowered to $85 from $95 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on BJ‘s Wholesale to $85 from $95 and keeps a Buy rating on the shares. Champine now thinks reduced price/cost spread seems almost inevitable, and that BJ’s prices on merchandise are gradually catching up with costs, the analyst tells investors in a research note. The company is still likely to benefit from a new, annuitized income stream as consumers take advantage of the club’s increasingly attractive value proposition in an inflationary environment, Champine adds.