Costco price target raised to $1,005 from $975 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Costco to $1,005 from $975 and keeps a Buy rating on the shares after its Q4 earnings beat. The firm sees “outsized” value driving traffic to shopping clubs as it sees no meaningful change in renewal rate despite the fee increase, the analyst tells investors in a research note. Costco’s e-commerce also continues to grow with a 20% increase on a core basis, and some of the categories that are driving this – including appliances and home furnishings – are near a cyclical bottom, Loop added.