Jefferies Maintains Hold Rating and $74 PT on Costco Wholesale

A report from Jefferies reiterates its Hold rating and $64 price target on Costco Wholesale Group

. The report states, “Comp store sales were at the upper end of our expectations for both the US and International divisions. The top-line is still benefiting from food inflation and good traffic at the gas pumps. Management cited rational pricing in the wholesale club channel with no noticeable changes at its two main competitors. December should benefit 50-70 bps from extra pre-Christmas day.” COST closed yesterday at $85.30.