1324 ET - As fallout from the U.S. tariff blitz weighs on the retail sector, Citi upgrades BJ's Wholesale Club to buy from neutral, saying the warehouse chain has an attractive growth concept that wins in a trade-down and tariff scenario. Citi says BJ's gets a bigger chunk of its sales from groceries than other warehouse clubs, giving it a competitive advantage based on its needs-based aspect and low tariff exposure, as a vast majority of product is domestically sourced. Citi adds that BJ's is well-positioned to capture trade-down spending in a more cautious consumer spending environment, and it boosts its target price on the stock to $130 from $115. In a down market, BJ's rises 2.5% to $117.81. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 13:24 ET (17:24 GMT)
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