Costco price target raised to $975 from $850 at Baird

Baird raised the firm’s price target on Costco to $975 from $850 and keeps an Outperform rating on the shares. The company reported another month of robust core comps, the analyst tells investors in a research note. In addition, the the announcement of a U.S. and Canada fee increase reinforces a positive view on the shares, says the firm. It notes that while some of the proceeds “will surely be reinvested,” the price hike “provides more oxygen to support COST‘s sector leading traffic momentum.”