DA Davidson raised the firm’s price target on Costco to $880 from $780 but keeps a Neutral rating on the shares after its “mixed” Q4 results. The company’s membership fee income growth was a bit below consensus, though the growth rate remains solid and its overall gross margins were better than expected, the analyst tells investors in a research note. From a bigger picture standpoint, its clear that Costco’s offering continues to resonate with consumers, the firm added.
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