Costco Wholesale (COST): Expecting 3% - 5% Comps - Piper Jaffray
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Piper Jaffray analyst, Sean Naughton, reiterated his Overweight rating on shares of Costco Wholesale (NASDAQ: COST) ahead of the August sales release. The analyst believes traffic was strong and membership signups are tracking well which should bring core comps in a range of 3% to 5% (excludes gas and FX) as strength in hardlines and consumer
electronics should offset deflationary pressure in food.
No change to the price target of $171.00
Shares of Costco Wholesale closed at $163.93 yesterday.
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