Morgan Stanley analyst Mark Wiltamuth published a report on Costco COST that reiterated its Overweight rating and raised price target from $109 to $113.
Morgan Stanley reported that, “We are raising our price target to $113 from $109 as Costco
remains our preferred safe haven in staples retailing. In our
view, Costco's ability to deliver consistent mid single digit traffic
trends in the face of a variety of economic landscapes
highlights the strength of its customer loyalty driven business
model. Looking forward, we see Costco's ramping
international expansion as the next growth driver. Given the
company's attractive long-term prospects, Costco was
selected as one of the featured stocks in Morgan Stanley's 20
for 2016 report, which was published on March 14.”
Shares of Costco closed at $101.68 on Monday.
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