Deutsche Bank Maintains a 'Buy' on Costco Wholesale (COST); Stocking Up the Same-Store Sales
Tweet Send to a FriendGet Alerts COST Hot Sheet
Price: $114.39 +1.06%
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade COST Now!
Deutsche Bank maintains a 'Buy' on Costco Wholesale (NASDAQ: COST) price target of $107.00.
Deutsche analyst said, "At first blush, Costco's June SSS looks a touch soft - with a headline print of 3.0% vs. our 3.4% estimate. With that said, after digging into the details, we arrive at a core/adjusted comp of 6.0%-6.5% in June when backing out all the noise (DB estimate of 5%/Street @ 4%)."
Deutsche Bank's review of June same-store sales considered: 1) gas/FX deflation hit for ~190bps; 2) Month ended last Sunday, shifting July 4th holiday shopping (100+ bps hit); and 3) 5 less multi-vendor mailer days year-over-year (25-50bps hit).
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 $94.42 yesterday, with a 52 week range of $70.22-$95.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst said, "At first blush, Costco's June SSS looks a touch soft - with a headline print of 3.0% vs. our 3.4% estimate. With that said, after digging into the details, we arrive at a core/adjusted comp of 6.0%-6.5% in June when backing out all the noise (DB estimate of 5%/Street @ 4%)."
Deutsche Bank's review of June same-store sales considered: 1) gas/FX deflation hit for ~190bps; 2) Month ended last Sunday, shifting July 4th holiday shopping (100+ bps hit); and 3) 5 less multi-vendor mailer days year-over-year (25-50bps hit).
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 $94.42 yesterday, with a 52 week range of $70.22-$95.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Bulls and Bears Do Battle in Aeropostale (ARO); Turnaround Intact?
- Pandora (P) Posts 'Strong Quarter' - Needham & Company
Create E-mail Alert Related Categories
Analyst Comments, Retail SalesRelated Entities
Deutsche Bank
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
