Citi downgrades BJ’s Wholesale, says optimism already priced in
Investing.com · Sam Boughedda ·
Citi downgrades BJ’s Wholesale, says optimism already priced in
Investing.com -- Citi cut its rating for BJ’s Wholesale Club (NYSE: BJ) to Neutral from Buy on Friday, citing a more balanced risk/reward after the stock’s strong run.
The bank nudged its price target up to $113 from $111.
Citi expects BJ’s third-quarter same-store sales to beat both the company’s plan of 2% to 3% and the Street’s 2.8% estimate. Warehouse clubs are seeing strong traffic as high gas prices draw shoppers, and investors have flocked to staples retailers as an inflation hedge.
Read the full story at Investing.com · All coverage of this story