Goldman Sachs Upgrades Costco Wholesale (COST) to Buy
COST Hot Sheet
Rating Summary:5 Buy, 8 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Goldman Sachs upgrades Costco Wholesale (Nasdaq: COST) from Neutral to Buy and raised their price target form $62 to $68.
The firm cited: 1) improving fundamentals to drive EPS upside, 2) potential catalyst on horizon – membership fee hike in 2011 to drive incremental EPS revisions, and 3) compelling valuation of 7.8x EV/EBITDA.
The firm raised FY11 EPS form $3.23 to $3.30 (cons $3.23) and FY12 form $3.52 to $3.67 (cons $3.60)
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The firm cited: 1) improving fundamentals to drive EPS upside, 2) potential catalyst on horizon – membership fee hike in 2011 to drive incremental EPS revisions, and 3) compelling valuation of 7.8x EV/EBITDA.
The firm raised FY11 EPS form $3.23 to $3.30 (cons $3.23) and FY12 form $3.52 to $3.67 (cons $3.60)
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