Costco price target lowered to $520 from $525 at Morgan Stanley

Morgan Stanley analyst Simeon Gutman lowered the firm’s price target on Costco to $520 from $525 and keeps an Overweight rating on the shares, telling investors that the firm’s "overall constructive view" and thesis is unchanged following fiscal Q2 results and the February sales release. The firm sees "modest risk" to estimates with overall growth likely to moderate, but notes that valuation has come in and calls Costco "among the most durable compounders in Retail."