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

Roth MKM analyst Bill Kirk raised the firm’s price target on BJ‘s Wholesale (BJ) to $101 from $87 and keeps a Neutral rating on the shares. Despite the company’s successes – strong renewal rates, higher-tier mix benefits, progress in general merchandise, improving fresh categories, increased private label penetration, and accelerated new club opportunities – its FY24 results and FY25 are still below long-term algorithm, the analyst tells investors in a research note. BJ’s is leaning into recent improvements, with increased capital spend behind accelerated new openings, the firm added.