Costco price target raised to $960 from $900 at Argus

Argus raised the firm’s price target on Costco to $960 from $900 and keeps a Buy rating on the shares. In the firm’s view, Costco continues to stand out as a company with consistent growth and high relevance to value-conscious customers. The recent special dividend of $15.00 per share, paid on January 12, is tangible proof of the company’s financial strength, Argues says. The firm also notes that historically, periods of stock-market turbulence have proven to be good times for careful and disciplined stock selection, with a focus on the highest-quality and financially strongest names.