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Fly News Breaks for January 23, 2020
Jan 23, 2020 | 06:09 EDT
BofA analyst Robert Ohmes downgraded BJ's Wholesale to Neutral from Buy with a price target of $25, down from $30. The analyst also lowers his assumed multiple to 15- to 16-times expected FY21 earnings from 19-times, citing potential risks to same store sales and membership renewals as a result of the ongoing merchandising transitions and unfavorable exposure to the Northeast, which is experiencing a decline in population and softer economy.