BofA raised the firm’s price target on BJ‘s Wholesale (BJ) to $100 from $90 and keeps a Buy rating on the shares ahead of the company’s fiscal Q3 report due on November 21. The firm, which notes that its increased target is based on a rolled forward FY27 EPS estimate of $4.70, forecasts Q3 EPS of 91c, versus the Street at 92c, and raised its comparable sales ex-gas growth forecast to 2% from 1.5% to reflect expected strength in BJ’s perishables business, a modest uptick in food inflation and a potential benefit from stock-up behavior related to hurricanes and port strike.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BJ:
- Large U.S. consumer names modestly higher afterhours as port strike ends
- SharkNinja initiated with an Outperform at Oppenheimer
- BJ’s Wholesale initiated with a Buy at Melius Research
- Closing Bell Movers: Intuitive Machines up over 40% on NASA contract
- BJ’s Wholesale director buys $199.5K in common stock