Costco Wholesale (COST) PT Raised to $305 at Citi Despite Slowing Online Growth
- Wall Street ekes out gains to close languid week
- 'Faster than Porsche but Safer than Volvo': Tesla (TSLA) Begins Model S Plaid Deliveries, Priced Between $131,100 and $145,600
- Oil hits multi-year highs in third weekly gain on demand recovery
- Snowflake (SNOW) Falls Following Investor Day Despite Strong Guidance, Analysts Bullish But Say Investors May Have Wanted More
- Dollar looks stronger as euro and sterling dip
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Citi analyst Gregory Badishkanian raised the price target on Costco Wholesale (NASDAQ: COST) to $305.00 (from $304.00) after the company reported a mixed bag in F1Q that saw solid comps but a softer eCommerce trend. US SSS (ex. Fuel/FX) came in at +5.0% (consistent with the company’s November sales release; includes a 50bps headwind from calendar shifts). Comp sales accelerated modestly on a two-year basis to +13.3% vs. +13.0% in 4Q.
The analyst maintained the Neutral rating, stating "Online sales (ex. FX) increased +5.7%, but were negatively impacted by ~12% points during the quarter related to calendar shifts (Thanksgiving and Black Friday shifted out of the quarter). Adjusted for this shift, shifts eCommerce sales would have increased ~17.7%, which is a slower pace than the 4Q trend of +21.9% (ex. FX and revenue recognition change). Management also noted that some of the lost sales online from a Thanksgiving/Black Friday outage were likely recaptured in the warehouse or pushed out to a later date".
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Macquarie Downgrades DLF Ltd. (DLFU:IN) to Neutral
- Altium Ltd. (ALU:AU) (ALMFF) PT Raised to AUD42 at Credit Suisse
- Informa Plc (INF:LN) (IFJPY) PT Lowered to GBP4.94 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst 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!