BJ’s Wholesale price target lowered to $110 from $117 at Evercore ISI

Evercore ISI lowered the firm’s price target on BJ‘s Wholesale (BJ) to $110 from $117 and keeps an In Line rating on the shares. Q2 highlights include a record high number of members above 8M as well as rising premium tier memberships and engagement, but the post-earnings stock decline reflects the 2.3% comp lagging the grocery industry and tougher second half comps that are “stoking bear concerns over slowing topline” growth, the analyst tells investors. While the firm understands “the cyclical angst in a competitive retail landscape,” it adds that the “overarching trajectory of the business is largely trending the right way.”