BJ’s Wholesale Gets Street-High Boost from Jefferies By Investing.com

By Christiana Sciaudone

Investing.com — BJ’s Wholesale Club rose more than 2% after getting a Street-high price target bump from Jefferies (NYSE:JEF).

Analyst Stephanie Wissink raised the price target to $60 from $58 while maintaining a buy rating, StreetInsider reported. She also raised her estimates for the first quarter, saying data supports first quarter foot traffic recovery amid continued digital strength. 

BJ’s is expected to report earnings per share of 56 cents on sales of $3.63 billion when it reports results on Thursday, according to data compiled by Investing.com. The company has seen an increase in sales over the past year thanks to the pandemic and consumers’ at-home habits. 

Last week, JPMorgan (NYSE:JPM) upgraded the stock to a buy-equivalent rating expecting the company to beat expectations for first quarter earnings, CNBC reported. The analyst cited stimulus checks, reopening and the formation of millennial households supporting a strong renewal rate for membership.