UPDATE: JPMorgan Downgrades BJ's Wholesale (BJ) to Neutral

(updating comment)

JPMorgan analyst Christopher Horvers downgraded BJ's Wholesale (NYSE: BJ) from Overweight to Neutral, PT $41.00.

The analyst comments "We are downgrading BJ to Neutral from Overweight as we believe the burden of proof shifts to BJ in the near-term and the stock has shown it tends to trade more like a traditional grocer when comps slow vs. a membership-based discount club. We believe the stock is likely to face skepticism and could be stagnant to lower each step closer to the hard comparisons, where there is also risk that membership contracts, which tends to be a large driver of valuation."

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 $37.54 yesterday.

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