UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Costco Wholesale Corporation

In a report published Friday, Jefferies & Company reiterated its Hold rating on Costco Wholesale Corporation

, and raised its price target from $89.00 to $91.00. Jefferies noted, “The core U.S. business ex-gas came in line with our expectation at +5%. Overall September SSS at 6% came slightly short of our expectation for a 7-8% increase reflecting slightly softer than expected international sales and a smaller FX benefit than we were modeling. Total and US traffic was up 4%, consistent with recent trend.” Costco Wholesale Corporation closed on Thursday at $99.62.