Deutsche Bank Maintains a 'Buy' on Costco Wholesale (COST); Stocking Up the Same-Store Sales

Deutsche Bank maintains a 'Buy' on Costco Wholesale (NASDAQ: COST) price target of $107.00.

Deutsche analyst said, "At first blush, Costco's June SSS looks a touch soft - with a headline print of 3.0% vs. our 3.4% estimate. With that said, after digging into the details, we arrive at a core/adjusted comp of 6.0%-6.5% in June when backing out all the noise (DB estimate of 5%/Street @ 4%)."

Deutsche Bank's review of June same-store sales considered: 1) gas/FX deflation hit for ~190bps; 2) Month ended last Sunday, shifting July 4th holiday shopping (100+ bps hit); and 3) 5 less multi-vendor mailer days year-over-year (25-50bps hit).

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 $94.42 yesterday.

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