Deutsche Bank Maintains a 'Hold' on Costco Wholesale (COST); Positive on Mexican Joint Venture
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Price: $112.55 -0.73%
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 21 | New: 29
Rating Summary:
8 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 21 | New: 29
Trade COST Now!
Deutsche Bank maintains a 'Hold' on Costco Wholesale (NASDAQ: COST) price target of $85.00.]
Analyst, Charles Grom, said, "Earlier this morning, COST and Controladora Comercial Mexicana, S.A.B. de C.V. announced that they have executed a definitive agreement, under which Costco Wholesale will purchase from CCM its 50% share interest in Costco de Mexico, S.A. de C.V., a joint venture, for $760.4 million USD."
In conclusion, Grom said, the writing was on the wall as far as consolidating Mexican operations, especially considering the company has $5.9 billion on the balance sheet. Grom sees Costco continuing to expand in Latin & South America.
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 $87.43 yesterday, with a 52 week range of $70.22-$92.10.
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Analyst, Charles Grom, said, "Earlier this morning, COST and Controladora Comercial Mexicana, S.A.B. de C.V. announced that they have executed a definitive agreement, under which Costco Wholesale will purchase from CCM its 50% share interest in Costco de Mexico, S.A. de C.V., a joint venture, for $760.4 million USD."
In conclusion, Grom said, the writing was on the wall as far as consolidating Mexican operations, especially considering the company has $5.9 billion on the balance sheet. Grom sees Costco continuing to expand in Latin & South America.
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 $87.43 yesterday, with a 52 week range of $70.22-$92.10.
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