Shares of BJ’s Wholesale Club Holdings Inc (NYSE:BJ) rose in early trading on Monday, after the company Friday reported upbeat fiscal second-quarter results.
BJ’s Wholesale Clubbenefited from higher gas prices during the quarter, both directly and indirectly in terms of sales growth, traffic and profits, according to DA Davidson’s Michael Baker.
The BJ’s Wholesale Club Holdings Analyst: Baker maintained a Buy rating and raised the price target from $105 to $108.
The BJ’s Wholesale Club Holdings Thesis: The company reinvested the benefits from higher gas prices into lower prices in the club.
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