BJ

BJ’s Wholesale price target raised to $108 from $102 at UBS

UBS raised the firm’s price target on BJ‘s Wholesale (BJ) to $108 from $102 and keeps a Buy rating on the shares. UBS thinks there were multiple positives coming out of BJ’s 3Q earnings results, including core same-store sales that were well above the sell-side consensus and strong member engagement, the analyst tells investors in a research note. While the club’s decision not to adjust out an 11c EPS tailwind related to a one-time legal settlement may make it challenging to grow earnings at a high single to low double digit pace in the year ahead on an optical basis, BJ’s long-term algorithm remains well within reach for fiscal 2025 on an underlying basis, the firm says.

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