RTTNews | Jan 14, 2022 11:20AM EST

11:20 Friday, January 14, 2022 (RTTNews.com) - The membership-based retail company, BJ's Wholesale Club Holdings, Inc. (BJ) saw its stock drop 7% on the Friday market after a J.P Morgan analyst marked the company as "underweight".

J.P. Morgan analyst Christopher Horvers has changed the stock's rating from "Overweight" to "Underweight" on Friday. The target price for the shares was also slashed from $78 to $60. The stock fell to the lowest since mid-November since the news came out.

Currently, the stock is trading at $60.22, down $4.66 or 7.18% since the previous close at $64.88. The stock opened at $59.99 in the morning. In the 52-week period, the stock has ranged between $37.15 and $74.09 per share.

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