BJ’s Wholesale price target raised to $101 from $87 at JPMorgan

JPMorgan raised the firm’s price target on BJ‘s Wholesale (BJ) to $101 from $87 and keeps a Neutral rating on the shares. The firm expects upside to Q4 estimates with the company’s guidance “prudently below” expectations. Based on its channel and data work, JPMorgan raised its Q4 core comp estimate to 3.5%, in-line with the Street high and above the 2.8% consensus, which it says compares to buy-side expectations in the low to mid-3% range.