Costco Shares Gain Premarket After June Sales Jump 16.9%, Morgan Stanley Raises Price Target

  • Costco Wholesale Corporation COST reported net sales of $18.92 billion for the retail month of June, a 16.9% growth year-on-year.
  • The total comparable sales increased 7.9% Y/Y.
  • e-Commerce comparable sales clocked a 20.8% growth, while Canada recorded the largest increase, with a 23.4% comp sales growth.
  • Morgan Stanley maintained Costco Wholesale with an Overweight rating and raised the price target from $415 to $425.
  • Price action: COST shares are trading higher by 0.97% at $411.11 premarket on the last check Friday.

Posted In: BriefsNewsPrice TargetReiterationRetail SalesAnalyst Ratings

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