Costco Wholesale (COST) PT Lifted to $165 at Cowen
Get Alerts COST Hot Sheet
Rating Summary:
23 Buy, 14 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Cowen analyst Oliver Chen reiterated an Outperform rating and boosted her price target on Costco Wholesale (NASDAQ: COST) to $165.00 (from $160.00) following Q2 results. The analyst told clients not to get distracted by Gas/FX and just own the stock.
Chen commented, "We con't to view COST as a core LT holding given envious traffic (+MSD vs. +MSD LY), steady comps, early stage e-com (+23% y/y at ~3% of sales) & attractive capital return (~3% FCF yield, spec. div, & ~$3B net cash). We acknowledge slight uptick in gas $ could limit 2H GM upside, but believe steady membership fee, traffic & comps key for stock upside."
The firm raised FY 2015 EPS from $5.19 to $5.30, FY 2016 EPS from $5.69 to $5.75 and FY 2016 EPS from $6.44 to $6.50.
For an analyst ratings summary and ratings history on Costco Wholesale click here. For more ratings news on Costco Wholesale click here.
Shares of Costco Wholesale closed at $151.17 yesterday.
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