BJ’s Wholesale price target raised to $85 from $75 at Loop Capital

Loop Capital raised the firm’s price target on BJ‘s Wholesale to $85 from $75 and keeps a Buy rating on the shares after the company’s “solid” Q4 earnings. The firm is updating its gross margin estimate by 11 bps as management guided to 20 bps of merchandise margin improvement, though its 2024 EPS estimates is cut by 2c to $3.98 on the lower gas pricing that it expects, the analyst tells investors in a research note.