BJ’s Wholesale price target raised to $140 from $130 at DA Davidson

DA Davidson raised the firm’s price target on BJ‘s Wholesale (BJ) to $140 from $130 and keeps a Buy rating on the shares. The company’s solid Q1 results highlighted the investment themes that underpin the firm’s Buy rating, including continued comp growth from an improved produce offering, with room to go in other grocery categories as the “Fresh 2.0” initiative extends, the analyst tells investors in a research note. The increased higher-tier membership penetration value positioning also resonates with customers, the firm added.