Costco price target raised to $612 from $600 at BMO Capital

BMO Capital raised the firm’s price target on Costco to $612 from $600 and keeps an Outperform rating on the shares. The company’s Q4 earnings beat marked another strong quarter with 9% earnings growth and continued strength in customer traffic trends, along with steady and strong membership renewals and further “impressive Executive member penetration”, the analyst tells investors in a research note. Costco’s consistency stands out as another factor that supports its premium valuation, the firm added.