RBC Capital Raises Price Target on Costco Wholesale (COST) Following 4Q Report
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RBC Capital reiterated an Outperform rating on Costco Wholesale (NASDAQ: COST), and raised the price target to $178.00 (from $177.00), following the company's 4Q earnings report. Costco reported flat comps, essentially in-line with estimates and membership fee income grew ~6% YOY to $832 million, in-line with the Street. EPS of $1.77 compared to $1.73 estimates.
Analyst Scot Ciccarelli commented, "We believe 4QFY16 results should be viewed favorably given the plethora of headwinds Costco continued to face and an overall sluggish retail environment. While various pressures like gas and food deflation could persist near-term, we expect comp and traffic growth to accelerate as the company moves farther away from this year’s credit card disruptions, and remain buyers of COST shares."
Shares of Costco Wholesale closed at $147.49 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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