Citi Updates On BJ and LGP

Citi has reported that Leonard Green Partners and BJ's Wholesale Club, Inc. (NYSE: BJ) have entered into a confidentiality agreement to look into a possible acquisition.

According to Citi, "Leonard Green Partners, L.P. (LGP) and BJ have entered into a confidentiality agreement which provides LGP with confidential information concerning BJ's business and properties. LGP plans on reviewing the material and evaluating the possibility of a potential acquisition of BJ, as well as related transactions. This is part of the due diligence process for LGP."

BJ has a Price Target of $52.00 and a Hold/High Risk Rating.

BJ closed yesterday at $48.84 a share.