Jefferies Maintains a 'Hold' on Costco Wholesale (COST); In-Line Q2 EBIT Represents Progress
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Price: $949.35 +1.70%
Rating Summary:
27 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
27 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Hold' on Costco Wholesale (NASDAQ: COST) price target raised $1 to $78.
Analyst, Daniel Binder, said, "At 21x blended FY12 and FY13 EPS, we think shares are range bound near term as the market anticipates continued gross margin risk. The $0.03 beat relative to expectations came below the EBIT line, but is welcomed after Costco missed EBIT the prior two quarters. Feb sales were in line with our expectations. The main risk in 2H is further price investment and tough sales comparisons, especially with waning inflation benefits likely."
Jefferies raises FY12 EPS estimate from $3.63 to $3.67 and FY13 from $3.87 to $3.90.
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 $86.06 yesterday.
Analyst, Daniel Binder, said, "At 21x blended FY12 and FY13 EPS, we think shares are range bound near term as the market anticipates continued gross margin risk. The $0.03 beat relative to expectations came below the EBIT line, but is welcomed after Costco missed EBIT the prior two quarters. Feb sales were in line with our expectations. The main risk in 2H is further price investment and tough sales comparisons, especially with waning inflation benefits likely."
Jefferies raises FY12 EPS estimate from $3.63 to $3.67 and FY13 from $3.87 to $3.90.
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 $86.06 yesterday.
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