Why BJ's Wholesale Stock Was Falling on Friday
Shares of BJ's Wholesale Club Holdings (NYSE: BJ) were trading down 6.4% as of 11:31 a.m. ET on Friday. The discount warehouse operator has delivered more than a double to investors over the past few years, and that's exactly why one Wall Street analyst believes it's time to sell.
J.P. Morgan analyst Christopher Horvers downgraded the stock from overweight to underweight and reduced the stock's near-term price target from $78 to $60, citing the potential for lower comp-sales growth in the near term.
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Source Fool.com
