UBS analyst Mark Carden has maintained their bullish stance on BJ stock, giving a Buy rating on November 12.
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Mark Carden has given his Buy rating due to a combination of factors that suggest a positive long-term outlook for BJ’s Wholesale Club Holdings, despite some near-term challenges. He anticipates that BJ’s will continue to gain market share in the third quarter, even though the company faces a challenging environment with increased price competition and concerns over its ability to grow general merchandise sales following the departure of its chief merchant.
Carden believes that BJ’s strong membership growth and low-price model will help it attract more customers, particularly in uncertain economic times. He projects a 2.0% same-store sales growth excluding fuel, which aligns with investor expectations, and expects total sales to rise by 3.9%, driven by new store productivity and robust membership fee income. Additionally, he notes that BJ’s sales growth has historically outpaced certain industry metrics, reinforcing confidence in the company’s performance.
In another report released on November 12, Wells Fargo also maintained a Buy rating on the stock with a $105.00 price target.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BJ in relation to earlier this year.