Market Overview

Piper Jaffray Reiterates Overweight Rating, $110 PT on Costco Wholesale Corporation

Related COST
UPDATE: Citi Initiates Coverage On Costco Wholesale Corporation
Citi Initiates Coverage On Costco Wholesale Corporation, Wal-Mart Stores, Inc. And Target Corporation
For Grocers, it's Time to Put Up or Shut Down (Fox Business)

In a report published Monday, Piper Jaffray & Co. reiterated its Overweight rating and $110 price target on Costco Wholesale Corporation (NASDAQ: COST).

Piper Jaffray noted, “We are estimating a December reported comp between 4%-6%, which is slightly below consensus of 5.8% at the mid-point. We are also assuming a core merchandise comp of 4%-6% given the reported number will be positively impacted by F/X and higher year-over-year gasoline prices, but largely offset by cannibalization. The mid-point of our core merchandise comp is relatively in line with consensus of 5.3%. We would note that we do have a bias to the upper end of our comp range. Overall, we continue to recommend shares of COST as we believe its consistent comp trends and structural pricing advantage positions the company well to outperform in a largely unknown retail/consumer macro environment.”

Costco Wholesale Corporation closed on Friday at $96.97.

Latest Ratings for COST

DateFirmActionFromTo
Sep 2014CitigroupInitiates Coverage onBuy
Sep 2014Northcoast ResearchUpgradesNeutralBuy
Jun 2014Morgan StanleyInitiates Coverage onOverweight

View More Analyst Ratings for COST
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Reiteration Analyst Ratings

 

Related Articles (COST)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters