Analyst Mark Carden from UBS maintained a Buy rating on Bj’s Wholesale Club Holdings and decreased the price target to $120.00 from $125.00.
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Mark Carden has given his Buy rating due to a combination of factors that highlight BJ’s Wholesale Club Holdings’ strategic progress and potential for growth. The company has shown resilience in its business model, particularly through advancements in general merchandise and membership initiatives. Despite some challenges in certain categories, BJ’s has demonstrated solid performance in its Fresh 2.0 initiative and has reaffirmed its commitment to expanding its store footprint, which is crucial for long-term growth.
Additionally, BJ’s has maintained strong membership fee income growth, aligning with market expectations, and has achieved a high renewal rate, which underscores the value customers find in its membership. The company’s strategic entry into the Texas market, particularly the Dallas-Fort Worth area, is seen as a positive move, given the region’s rapid population growth. These factors, combined with BJ’s ability to benefit from broader consumer trends favoring the club channel’s value proposition, support the Buy rating.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $108.00 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.