Goldman Sachs Downgrades Costco Wholesale (COST) to Neutral

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Goldman Sachs downgraded Costco Wholesale (NASDAQ: COST) from Buy to Neutral, but raises its price target from $80 to $81.

The firm said, "we believe consensus EPS estimates (now $3.82 vs. our $3.81) and current valuation (in line with historical average at 9x) fully reflect its strong franchise value, which continues to gain market share as demonstrated by comp outperformance in March."

For more ratings news on Costco Wholesale click here and for the rating history of Costco Wholesale click here.

Shares of Costco Wholesale closed at $77.82 yesterday, with a 52 week range of $53.41-$78.46.

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