Cowen Reiterates Outperform on Costco Wholesale (COST) Following September Comps

October 6, 2016 8:10 AM EDT
Get Alerts COST Hot Sheet
Price: $163.01 -0.75%

Rating Summary:
    19 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Cowen reiterated an Outperform rating and $170.00 price target on Costco Wholesale (NASDAQ: COST) following the company's September comp report. September comps of +1.0% beat expectations of flat y/y.

Analyst Oliver Chen commented, "Sept. reported comps of +1% beat Street's +0.1%, while Sept. comps (ex. gas & FX) of +1.0% in line with Street's +0.9%; core US comp (ex. gas) was flat y/y. Overall traffic steady at just under 2% y/y, with trends better in the US & Canada and softer in Other Int'l. Sept. 2-year stack of +9% vs. Aug's +7% & July's +8%. Reit. Outperform w/ $170PT. Next catalyst: Oct. sales on 11/2."

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 $149.98 yesterday.

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