Costco Wholesale (COST) PT Raised to $190 at Morgan Stanley on 3Q Report; 'Good Bounceback Quarter'
Morgan Stanley raised its price target on Costco Wholesale (NASDAQ: COST) to $190.00 (from $180.00) while maintaining a Overweight rating, following the company's third quarter earnings report.
Analyst Simeon Gutman notes the company delivered third quarter earnings per share and revenues above consensus projections, despite a tough retail backdrop, as management benefits from a strong membership model and high retention resulting in incremental traffic growth.