BJ’s Wholesale price target lowered to $123 from $140 at DA Davidson

DA Davidson lowered the firm’s price target on BJ‘s Wholesale (BJ) to $123 from $140 and keeps a Buy rating on the shares. Earnings were better than expected in Q2 and guidance was increased, but BJ’s missed consensus comparable store sales growth estimates, as well as their own internal plan, the analyst tells investors. A comp miss, even slight, will “cause some performance giveback” for a stock that has been an outperformer in 2024 and year-to-date, the analyst contends.