Nomura Securities Reiterates Buy on Costco Wholesale (COST) Following 3Q Report

May 26, 2016 9:08 AM EDT
Get Alerts COST Hot Sheet
Price: $384.75 +1.41%

Rating Summary:
    23 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 13
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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."

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 $144.54 yesterday.

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