Costco price target raised to $805 from $795 at Evercore ISI

Evercore ISI raised the firm’s price target on Costco to $805 from $795 and keeps an Outperform rating on the shares after the company reported March 7.5% global and 7.3% U.S. core comp growth, which the firm says showcases “a meaningful acceleration on an underlying basis and relative to consensus expectations.” Even after adjusting out 50 basis points for an early Easter shift, March was “a banner performance,” says the analyst, who adds that the strong sales print is “enough to push our estimates ~1% higher.”