Costco price target raised to $1,075 from $975 at Baird

Baird analyst Peter Benedict raised the firm’s price target on Costco (COST) to $1,075 from $975 and keeps an Outperform rating on the shares after its November sales data. The company’s “normalized” core comps remained healthy at about 6.4%, while its two-year stacked growth rate was “stable with October”, the analyst tells investors in a research note. Costco’s negative calendar shift had an outsized impact on e-commerce, but the company again delivered solid growth across core categories and regions, all of which were up mid single digits or better, Baird added.