BJ’s Wholesale price target raised to $120 from $110 at Loop Capital

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.