BJ's Wholesale (BJ) PT Raised to $92 at DA Davidson, 'see many of the long-term favorable dynamics'

DA Davidson analyst Katy Hallberg raised the price target on BJ's Wholesale (NYSE: BJ) to $92.00 (from $90.00) while maintaining a Buy rating.

The analyst commented: "We see many of the long-term favorable dynamics that underpinned our elevation of BJ’s to a “Best-of-Breed Bison” name last month playing out in their 4Q23 results and 2024 outlook. These include past investments in general merchandise categories starting to pay off, investments in value driving own brands helping to drive share among lower end demographics, gas and online share gains and profit improvements, and success with new stores in new markets that highlights the potential for BJ to be a much bigger company in the future. We reiterate our BUY rating and our price target is $92 based on 20x our 2025 EPS estimate."

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