Loop Capital analyst Laura Champine raised the firm’s price target on BJ‘s Wholesale (BJ) to $120 from $110 and keeps a Hold rating on the shares. The firm cites the company’s better than expected Q1 results, with 4% same store sales growth topping its estimate, the analyst tells investors in a research note. Loop adds that consumers are value-oriented given grocery inflation, which benefits BJ’s, and while the company has rolled out a membership fee increase January 1, so far churn has not spiked.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BJ:
- BJ’s Wholesale price target raised to $130 from $125 at Baird
- BJ’s Wholesale price target raised to $127 from $125 at Wells Fargo
- BJ’s Wholesale price target raised to $130 from $125 at BofA
- Balanced Outlook on BJ’s Wholesale Club: Strong Earnings and Growth Amid Valuation Concerns
- Mixed Signals for BJ’s Wholesale Club: Strong Growth Amidst Valuation Concerns Justifies Hold Rating