Evercore ISI analyst Greg Melich lowered the firm’s price target on BJ‘s Wholesale to $64 from $68 and keeps an In Line rating on the shares while closing the firm’s tactical trading call and removing the stock from the firm’s “Tactical Underperform” list as the Q3 earnings catalyst has passed. The firm’s Q4 EPS outlook of $1.05 is unchanged, but it is trimming its “below consensus” 2024 estimate to $3.90 as it thinks leveraging a sub-2% could be increasingly difficult given that BJ’s is facing a softening consumer backdrop with the added headwind of grocery disinflation.
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Read More on BJ:
- BJ’s Wholesale price target lowered to $58 from $62 at JPMorgan
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