Citi raised the firm’s price target on Costco to $585 from $530 and keeps a Neutral rating on the shares. The company’s November comps of 4.4% accelerated versus October, the analyst tells investors in a research note. The firm believes Costco is well positioned to navigate the current market environment, but it finds the stock’s risk/reward as balanced at current levels.
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Read More on COST:
- Costco price target raised to $547 from $510 at Barclays
- Costco reports November SSS growth 3.5%, net sales $20.14B, up 5.1%
- Costco Wholesale Corporation Reports November Sales Results and the Passing of Long-Time Board Member, Charles Munger
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