Market Overview

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

Share:
Related COST
Consumer Staple ETFs Remain Steady In 2015
In Case You Missed May Retail Sales, Here's What Happened
Investors Should Turn Bearish on Stocks Breakdown (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
Jun 2015MacquarieInitiates Coverage onNeutral
Mar 2015BarclaysMaintainsEqual-weight
Feb 2015Deutsche BankDowngradesBuyHold

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...

Get Benzinga's Newsletters