Costco price target raised to $740 from $655 at BofA

BofA analyst Robert Ohmes raised the firm’s price target on Costco to $740 from $655 and keeps a Buy rating on the shares. Costco declared a special cash dividend of $15 per share and announced “strong” membership trends in Q1, the analyst tells investors in a research note. The firm expects Costco to gain share in the current environment as consumers continue to adjust to higher prices, making Costco’s value proposition more attractive.