Costco price target raised to $830 from $800 at Loop Capital

Loop Capital raised the firm’s price target on Costco to $830 from $800 and keeps a Buy rating on the shares after its Q4 earnings beat. The firm is raising its longer-term margin estimates as this year is still being impacted by gas deflation, and Loop also expects private label penetration to continue to grow, the analyst tells investors in a research note. Loop also maintains the vie that Costco is likely to perform well in a variety of macroeconomic scenarios.