BMO Capital analyst Kelly Bania lowered the firm’s price target on Costco to $555 from $600 but keeps an Outperform rating on the shares. The company’s Q1 results were in line with expectations as it seems to be "reinvesting gas margin upside", the analyst tells investors in a research note. Bania adds however that while big-ticket discretionary weakness weighted on November comps, she recommends that investors use the weakness in Costco shares during this macro cycle to build positions in this "best-in-class retailer".
Published first on TheFly
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