Roth MKM analyst Bill Kirk raised the firm’s price target on Costco to $650 from $601 but keeps a Neutral rating on the shares. The company’s March sales saw strong acceleration off February and back in line with aggregate Q2, though the firm continues to “struggle” with Costco’s valuation at enterprise value of 28-times its expected next-12-months EBITDA, the analyst tells investors in a research note. Costco is a best-in-class operator, but the stock is close to fairly valued, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COST:
- Costco (NASDAQ:COST) Boosts Dividend amid Solid Sales Growth
- Costco Wholesale Corporation Reports March Sales Results and Announces an Increase in Its Quarterly Cash Dividend
- Wells Fargo Analyst Forecasts Brisk Sales of Gold for Costco (NASDAQ:COST)
- Bigger Refunds, Busier Stores: How Tax Season Could Boost Retail Stocks
- Is Costco Stock (NASDAQ:COST) a Bubble at 47x Earnings?
