Loop Capital analyst Laura Champine raised the firm’s price target on Costco (COST) to $1,095 from $1,005 and keeps a Buy rating on the shares. The firm cites the company’s Q1 earnings beat, with gross margin expansion more than offsetting SG&A expense growth, the analyst tells investors in a research note. Loop adds that Costco’s calculated new store productivity remains high at well over 100%, pointing to continued strong unit growth opportunities for the company, also noting that its membership fee increase should have a positive low-single digit impact on membership fee growth.
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Read More on COST:
- Costco price target raised to $907 from $755 at Roth MKM
- Costco price target raised to $1,030 from $1,020 at Evercore ISI
- Costco price target raised to $1,000 from $950 at Wells Fargo
- Costco price target raised to $900 from $880 at DA Davidson
- Costco price target raised to $1,090 from $975 at TD Cowen
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
