Bernstein raised the firm’s price target on Costco (COST) to $1,140 from $1,137 and keeps an Outperform rating on the shares after the company reported Q4 results with in line comparable sales and margins. U.S. traffic growth decelerated as Costco lapped tough comparable sales from last year’s gift card and gold/silver sales, but started to improve later in the quarter as the company extended hours. Costco’s membership fee income grew by 14%, and 7% ex price increase and FX, Bernstein adds.
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