Oppenheimer Holdings Reiterates Perform Rating, $105 PT on Costco Wholesale Corporation
In a report published Wednesday, Oppenheimer Holdings reiterated its Perform rating and $105.00 price target on Costco Wholesale Corporation (NASDAQ: COST).
Oppenheimer noted, “We look upon the better than expected Q1 (Nov.) results that Costco reported today as another clear indication that this chain remains solidly in control of its own destiny, despite ongoing macro headwinds and an ever changing retail landscape. EPS of $0.95 topped a Street estimate of $0.93. COST previously announced that comp store sales rose 7% in the period. Gross margins rose 6 bps, marking the best performance in at least four quarters. Many investors look upon COST as a key core retail holding. Our Perform rating simply reflects valuation.”
Costco Wholesale Corporation closed on Tuesday at $98.31.
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