Loop Capital analyst Laura Champine raised the firm’s price target on BJ‘s Wholesale (BJ) to $95 from $85 and keeps a Hold rating on the shares. The firm is citing the company’s announcement of its first membership fee increase in seven years, the analyst tells investors in a research note. Consumer stock-up behavior in the path of the recent major storms – where BJ’s has about 3% of its total stores – drove a 1% lift to its core SSS in Q3, but even without this lift, core comp growth of 3.8% would’ve beaten Loop’s estimate by about 80 bps, the firm adds.
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