Deutsche Bank Downgrades Costco Wholesale (COST) to Hold; Amazon/Whole Foods a 'Game Changer'
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Deutsche Bank downgraded Costco Wholesale (NASDAQ: COST) from Buy to Hold with a price target of $172.00 (from $187.00).
Analyst Paul Trussel said the pipeline of positive catalysts has played out and the competitive backdrop is intensifying with AMZN & WMT accelerating in-store and online efforts and innovation.
"The WFM acquisition represents a game changer with COST's competitive moat in grocery under greater threat while its digital platform lags peers, putting membership renewal at risk for decline," Trussel commented.
Shares of Costco Wholesale closed at $167.11 yesterday.
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