As previously reported, Wells Fargo downgraded BJ‘s Wholesale to Equal Weight from Overweight with a price target of $70, down from $73. The firm continues to like the fundamental story of BJ’s, but the stock has a tough path ahead for 2019 in its view. Wells’ concerns include high exposure to food price deflation given its grocery mix, too much of the 2024 story hinging on improved momentum in underlying grocery share and general merchandise, potential for some margin downside as competitive pressures intensify, and modest earnings risk.
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Read More on BJ:
- BJ’s Wholesale price target lowered by $5 at Loop Capital, here’s why
- Vivid Seats, Hims & Hers added to ‘Endeavor List’ at BofA
- BJ’s Wholesale price target lowered to $67 from $71 at Deutsche Bank
- BJ’s Wholesale removed from ‘Tactical Underperform’ list at Evercore ISI
- BJ’s Wholesale price target lowered to $58 from $62 at JPMorgan
