As previously reported, Wells Fargo analyst analyst Edward Kelly upgraded BJ's Wholesale to Outperform from Market Perform, saying the stock recovery looks poised to continue as he sees numerous developing factors that make the name an "attractive investment idea for 2019." The analyst adds that growing confidence in the near-term story, the ever-present allure of the turnaround opportunity, and its defensive positioning have aligned to raise his optimism. While the story is not perfect, the upside potential in the name far outweighs the downside, he contends. Kelly also raised his price target on the shares to $29 from $24.