Loop Capital raised the firm’s price target on Costco (COST) to $970 from $940 and keeps a Buy rating on the shares as part of a broader research note on Super Centers. The firm contends that “deflation” at Costco vs. “slight inflation” at BJ‘s Wholesale (BJ) will drive traffic, the analyst tells investors in a research note. Costco’s long-awaited member fee increase will also have a positive low-single digit impact on overall membership fee growth, which will flow through to the bottom line, the firm added.
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