COST - Costco Holds Strong Potential Healthy Membership and Club Growth: Morgan Stanley | Benzinga
Morgan Stanley analyst Simeon Gutman reiterated a Overweight rating on the shares of Costco Wholesale Corporation (NASDAQ: COST) and raised the price target from $535 to $585.
Costco's Q4 revenues came in at $78.939 billion, which beat the consensus estimate of $77.9 billion.
COST is executing well with positive/steady same-store sales in the ~4% range, and overall top-line growth in the mid-single-digits, said the analyst.
The analyst asserted that membership trends remain healthy and productive club growth is continuing.
One of the reasons for being neutral ...