Goldman Sachs Mantains Buy Rating On BJ's Wholesale Club

According to Goldman Sachs, BJ's Wholesale Club (NYSE: BJ) Buy rating is maintained.

Goldman Sachs said that the New York Post reported today that BJ's is looking for closer to $55 per share from a joint bid by Leonard Green & Partners and CVC Capital Partners, versus an earlier reported bid of $50 per share. “Our 12-month price target of $60 is unchanged and based on a 35% weighting of a theoretical M&A valuation of $61 (still based on 8X NTM EBITDA) and a 65% weighting of our EBITDA-derived, $59 valuation (7X 2012E, equal to BJ's average EV/EBITDA pre-recession and LBO speculation).”

BJ's Wholesale Club closed yesterday at $47.27.