May 11, 2015 7:03 AM | 1 min read |
In a report published Monday, analysts at Goldman Sachs maintained their Neutral rating on
Costco Wholesale Corporation
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(NASDAQ: COST). The price target was lowered from $155 to $154. The company posted its U.S. same-store sales for March/April below the levels witnessed in the past several months.Although the company's March/April same-store sales were weaker than before, they were "still near the top-end of growth posted by most retailers, notably large ones," the analysts said. The weakness in sales was partially mitigated by lesser Fx headwinds.Goldman Sachs has accordingly lowered its 3Q15 EPS estimate from $1.17 to $1.15, while raising the EPS estimates for FY16 and FY17 to $5.50 and $6.10, respectively. The analysts believe that "earnings momentum has peaked for this gas cycle… food inflation is moderating, and sales trends in recent months ticked down slightly."In the next six months, Goldman Sachs expects investors to start focusing on the earnings drivers for 2016-2017, including a potential credit card agreement with
Visa Inc (NYSE: V), which is expected to be accretive for Costco.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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