UBS Maintains a 'Neutral' on Costco Wholesale (COST); Solid Core Plus Rising Gas Equal Strong August

UBS maintains a 'Neutral' on Costco Wholesale (NASDAQ: COST) price target of $96.00 (from $93.00).

Early this morning, Costco reported August sales were $7.4B, up 8% for the same period last year. On a 52-wk basis (ending Aug 26, 2012), COST reported sales of $95.12B, 9% better than the previous year of $87.05B.

Comp store-sales were up 6% (7% U.S. plus 4% Int'l). Inflation on gasoline prices were positive, but foreign currencies negatively impacted the period.

UBS Analyst, Robert W. Caroll, said store core plus rising gas prices combine for strong August comps.

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 $97.11 yesterday.

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