UPDATE: Stifel Nicolaus Reiterates Buy Rating, Raises PT on Costco
In a report published earlier today, Stifel Nicolaus and Company, Inc. reiterated its Buy rating on Costco Wholesale Corporation (NASDAQ: COST) and raised its price target from $90.00 to $100.00.
Stifel Nicolaus went on to say “We believe ramping gross margin gains (both membership fees and core against easier comparisons) will raise investor confidence in high-quality operating margin gains. COST is the best-suited big-box retailer for Obamacare (on a relative basis, as their benefits are best-in-class there will be less inflection higher in costs). Our generally cautious view on consumer spending and prospects for relative performance for retail limit our target price lift in the short term.”
Costco Wholesale Corporation closed on Friday at $95.00.
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