BJ's Wholesale Club To Generate 'Solid' Top-Line Growth, Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Kate McShane upgraded BJ's Wholesale Club Holdings Inc (NYSE:BJ) from Neutral to Buy, raising the price target from $81 to $87. The upgrade is based on expected volume growth in the grocery business, which makes up 86% of BJ's sales, and a supportive inflation outlook. BJ's is also expected to benefit from increased customer engagement and market share gains. Shares rose by 0.71% to $76.45 following the announcement.
April 08, 2024 | 4:39 pm
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Goldman Sachs upgraded BJ's Wholesale Club to Buy from Neutral, with a price target increase from $81 to $87, citing expected volume growth and a supportive inflation outlook.
The upgrade by Goldman Sachs is a strong positive signal for BJ's Wholesale Club, indicating a bullish outlook on the company's future performance. The increase in price target reflects expectations of solid top-line growth driven by volume growth in the grocery segment and a supportive inflation outlook. This analyst endorsement can lead to increased investor confidence and potentially drive the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100