Citi Reiterates a 'Hold' on BJ's Wholesale (BJ), Turnaround Success Trumps Tough Environment
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Citi reiterates a 'Hold' rating on BJ's Wholesale Club Inc (NYSE: BJ). Price target $36.
Citi analyst says, "We were impressed with BJ's strong 3Q08 EPS results and believe that improvements in merchandising, particularly in perishables, are resonating well with consumers and leading to market share gains. While slowing discretionary sales and lower MFI growth could prove to be headwinds, we believe that the company is managing well in the current environment."
BJ's Wholesale Club, Inc. (BJ's) is a warehouse club operator in the eastern United States.
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