COST - Costco Will Be A Share Gainer With Solid Sales And High Membership Renewal Rates: Analyst Forecasts Upside | Benzinga
Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on Costco Wholesale Corporation (NASDAQ: COST), raising the price target to $625 from $600.
Costco reported a solid November headline comp of 3.5%, just shy of the analyst's view of 3.8%.
Excluding the gas (-110 bps) and FX (+20 bps) net headwind of ~90 bps, the core merchandise comp came in at 4.4%, in line with the analyst's projection of 4.5%.
In November, total traffic increased by +4.8% (U.S. +3.7%), while the average ticket decreased by 1.3%.
The ticket ...