UPDATE: BofA Securities Downgrades BJ's Wholesale (BJ) to Neutral

BofA Securities analyst Robert Ohmes downgraded BJ's Wholesale (NYSE: BJ) from Buy to Neutral with a price target of $66.00 (from $60.00).

The analyst comments "Continued labor investments could also limit upside. BJ made investments in its starting hourly wages in F2Q, moving its avg. hourly wage to “well above” $15/hr, with an incremental $30mn SG&A burden in 2H that should continue into next year, as other discount retailers (WMT, TGT & COST) have made
significant wage increases over the last ~1.5 years"

For an analyst ratings summary and ratings history on BJ's Wholesale click here. For more ratings news on BJ's Wholesale click here.

Shares of BJ's Wholesale closed at $59.12 yesterday.

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