As previously reported, Gordon Haskett upgraded BJ‘s Wholesale to Buy from Hold with an $80 price target. The firm had downgraded the stock in May on concerns that management had established too high of an FY23 earnings bar, which they subsequently lowered in August, and with the stock more/less flat since that time and concerns “fairly well understood,” the firm believes that getting more constructive adds to its “arsenal of more defensively postured retailers poised for upward earnings revisions” and turnaround potential in 2024.
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