Costco price target raised to $760 from $695 at Oppenheimer

Oppenheimer raised the firm’s price target on Costco to $760 from $695 and keeps an Outperform rating on the shares. The firm believes fundamental momentum is poised to accelerate from here with Costco’s demonstrated ability to drive grocery share even in low inflationary/deflationary backdrops, an improving outlook for its non-foods offering on easier comparisons and moderating inflation, and a potentially strengthening middle to higher income consumer, the analyst tells investors in a research note.