UPDATE: McAdams Wright Ragen Cuts PT to $98 on Costco Wholesale Following Dividend
McAdams Wright Ragen reiterated Costco Wholesale (NASDAQ: COST) at Hold while cutting its price target from $102 to $98.
McAdams Wright Ragen commented, "Overall, operating trends remain strong. However, with the stock trading at 22x our FY13 earnings estimate, we maintain our Hold rating, and prefer a lower entry price. We are also lowering our price target to $98, or 22x our FY13 estimate, from $102, in part to compensate for $7.00 per share special dividend."
Costco Wholesale closed at $97.72 on Wednesday.
Latest Ratings for COST
|Dec 2016||Deutsche Bank||Maintains||Buy|
|Nov 2016||Edward Jones||Upgrades||Hold||Buy|
|Oct 2016||Northcoast Research||Upgrades||Neutral||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.