Deutsche Bank Downgrades Costco Wholesale (COST) to Hold; Valuation Call

Deutsche Bank downgraded Costco Wholesale (NASDAQ: COST) from Buy to Hold with a price target of $89.00.

Deutsche analyst said, "Since launching coverage on COST last Fall shares have risen ~ 12% and have now reached our $89 price target. As a result, we have decided to move to the sidelines as both the Bull and Bear case seem evenly distributed at this juncture. Moreover, within our Barbell Strategy and Shades of Grey Portfolio we favor stocks with positive catalysts on the horizon, secular tailwinds (i.e. Health & Wellness) and strong traffic/SSS momentum. While Costco remains a best-in-class operator, we think other stocks offer better upside NT."

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 $88.18 yesterday.

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