Goldman Sachs Cuts BJ's (BJ) to Neutral; Removes from Conviction Buy List

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Goldman Sachs downgraded shares of BJ's Wholesale (NYSE: BJ) from Buy to Neutral and also removed the stock from its "Conviction Buy List."

Wednesday's lowered investment rating follows a private-equity agreement to acquire the company for $2.8 billion.

Notably, the firm lowered its price target on the shares of BJ's from $60 to $53.

For more ratings news on BJs Wholesale click here and for the rating history of BJs Wholesale click here.

Shares of BJs Wholesale closed at $48.08 yesterday, with a 52 week range of $36.77-$52.46.

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