Costco price target raised to $575 from $545 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Costco to $575 from $545 and keeps a Buy rating on the shares. The company’s comps beat expectations in every region in January and followed better-than-expected December, the analyst tells investors in a research note. The firm further contends that the stock’s long-term growth and stability in MFI deserve modestly higher multiples than the current valuation of 25-times expected forward earnings.