Costco price target raised to $805 from $760 at Oppenheimer

Oppenheimer raised the firm’s price target on Costco to $805 from $760 and keeps an Outperform rating on the shares ahead of quarterly results. The firm’s prior intermediate to longer-term fundamental views remain intact. Looking at the upcoming print, Oppenheimer overall sees limited EPS upside potential. Its Q2 EPS of $3.52 remains below the Street’s $3.62. It is unclear to the firm whether the Street has properly accounted for the lost interest income associated with paying the special dividend. For longer-term players, Oppenheimer would take advantage of any dips. It sees a risk of profit taking following a near-parabolic rally in shares since late-October lows, the firm adds.