Wall Street Strategies Reiterating PT And Rating On BJ's Wholesale Club

In a report published by Wall Street Strategies, BJ's Wholesale Club

price target and rating are reiterated. Wall Street Strategies said that, “We are reiterating our Buy recommendation and $53.00 price target on BJ's Wholesale (

). Today we learned that BJ's entered into a confidentiality agreement with private equity firm Leonard Green, which holds a shade under 10% of the outstanding shares. Essentially, Leonard Green will pour over the books of BJ's in order to weigh a more appropriate bid than the one likely put on the table late last year. The development in our view is a positive, indicating a fluid dialogue between the two companies that could very well result in a transaction. Let's not rule out competing bids for BJ's, however.” BJ's Wholesale Club closed yesterday at $48.67.