Nomura Securities Reiterates Buy on Costco Wholesale (COST) Following 3Q Report
- Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P
- Dollar surges to two-month high on Fed rate-hike projection
- BofA Fund Manager Survey: 72% Says Inflation 'Transitory', 63% Expect Fed to Signal Taper Aug/Sept, 'Long Commodities' Now the Most Crowded Trade
- Oil falls from multi-year highs on firmer dollar, hike in UK COVID cases
- People Are Spending More Time Outdoors, Which Will Hurt Netflix (NFLX) This Quarter - KeyBanc
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Nomura Securities maintained a Buy rating and $185.00 price target on Costco Wholesale (NASDAQ: COST) following the company's 3Q earnings report. Costco reported EPS of $1.24, above the consensus of $1.22. Membership fee income (MFI) rose 5.8% to $618mn, above Nomura's expectation for a 5.0% increase.
Analyst Robert Drbul commented, "While we acknowledge several near-term overhangs that have pressured the stock, including a slight deceleration in comp and traffic gains as the company laps difficult gas driven compares, commodity price deflation and FX volatility, and the credit card transition to Citi/Visa, we believe there are several reasons to remain optimistic on the shares over the medium- to LT."
Shares of Costco Wholesale closed at $144.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Starts Ashland Inc. (ASH) at Buy
- Toray Industries, Inc (3402:JP) (TRYIY) PT Raised to JPY800 at Nomura/Instinet
- LIC Housing Finance (LICHF:IN) PT Raised to INR625 at Nomura/Instinet
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesCiti, Nomura, Earnings, Robert Drbul
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!