Costco Wholesale (COST) Adjusted Comps Rose 6% in June
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BMO Capital Remains Positive on Costco Wholesale (COST) After Meeting with Management
July 13, 2015 7:49 AM EDTBMO Capital reiterates an Outperform rating and $165.00 price target on Costco Wholesale (NASDAQ: COST) following meetings with management. Analyst Kelly Bania expects ongoing IT modernization spending to remain elevated into calendar 2016 and into 2017.
Bania commented, "Following our visit, we feel even more confident about Costcos longer-term margin outlook, supported by: 1) ongoing mix shift toward higher-margin international sales (we estimate a roughly +10bps/year); 2) favorable mix-shift benefit from increasing penetration of higher-margin... More
