Citi Remains Bullish on Costco (COST) Following Survey of Members
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Citi reiterated a Buy rating and $217.00 price target on Costco Wholesale (NASDAQ: COST) following a survey of members. Citi continued to hear concern regarding the impact that Amazon/Whole Foods may have on Buy-rated Costco.
Results indicate COST still carries advantages in terms of shopping frequency, member loyalty and grocery shopping, although pricing perception and purchase intentions are factors to watch going forward. Respondents believe that Costco generally offers the best prices. But relative to Amazon, attitudes may be shifting as 30% of respondents believe Costco offers better prices than Amazon, down from 34% in September.
Shares of Costco Wholesale closed at $183.55 yesterday.
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