FMP
BJ's Wholesale Price Target Increased at BofA After Q1 Report
May 24, 2024 10:07 AM - Davit Kirakosyan
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BofA Securities analysts raised their price target for BJ's Wholesale (NYSE:BJ) to $95 from $90 while maintaining a Buy rating, after the company reported Q1 results yesterday.
The analysts anticipate a 20 basis point year-over-year increase in merchandise margin for fiscal 2025, driven by the growth of Own Brands and effective cost management, including SKU rationalization.
BJ's recently introduced its own food storage bags in the first quarter, appealing to consumers looking for better value compared to national brands. The company continues to gain market share in its gas business, although first-quarter profits were below expectations.
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