Costco (COST) PT Increases On Model Roll at Citi
- Nasdaq ends at record high as Big Tech roars back
- Sanderson Farms (SAFM) Explores Sale - Report
- Bitcoin (BTC) Cracks $30,000 to Hit 6-Month Low, Here Are Next Targets Lower
- Dollar lower as Powell reaffirms pledge to not raise rates too quickly
- Splunk (SPLK) Lands $1 Billion From Silver Lake, Announces Buyback One Day After Activist Rumors Surface
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Citi analyst, Kate McShane, reiterated her Buy rating on shares of Costco Wholesale (NASDAQ: COST) and raised her price target to $250 from $222 after rolling forward the discounted cash flow analysis which implies a 29x P/E multiple and a 15x EV/EBITDA multiple on FY2 estimates.
The analyst stated "COST remains well positioned to withstand competition (including from AMZN) given its low prices, its experience in the grocery industry, the "treasure-hunt" aspect of shopping, COST’s ability to act as a one-stop shop for households, the draw of its ancillary businesses that cannot be replicated online, and its geographic diversification. Recent results reinforce that COST remains a best-in-class operator with a wide competitive moat".
Shares of Costco Wholesale closed at $218.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades Carvana (CVNA) to Neutral on Less Favorable Near-term Risk Reward
- Lloyds Banking Group Plc. (LLOY:LN) (LYG) PT Raised to GBP0.60 at Credit Suisse
- HSBC Downgrades Burberry Group PLC (BRBY:LN) (BBRYF) to Hold
Create E-mail Alert Related CategoriesAnalyst EPS Change, Analyst PT Change
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!