Costco Wholesale Corp. Receives Buy Rating from Deutsche Bank (COST)
Costco Wholesale Corp. (NASDAQ:COST)‘s stock had its “buy” rating reiterated by Deutsche Bank in a research note issued on Thursday, StockRatingsNetwork reports. They currently have a $121.00 price objective on the stock, up from their previous price objective of $120.00. Deutsche Bank’s target price points to a potential upside of 5.38% from the company’s current price.
The analysts wrote, “4Q EPS, September SSS on Tap. Despite its expensive valuation, we continue to prefer Costco as a defensive play, as it represents one of the most consistent operators in our group. Its solid traffic and membership renewal rates are unique within a space wrought with uncertainty of late. Costco reports 4Q EPS (and September SSS) on 10/9 and we believe it will post a solid quarterly print. However, we are aware that the potential combination of FX fluctuations, volatile gas prices, and lapping the benefits provided by the extra week last year could impact both GPM and SG&A margins. Buy.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Costco Wholesale Corp. (NASDAQ:COST) in a research note to investors on Tuesday. They now have a $130.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “hold” rating on shares of Costco Wholesale Corp. (NASDAQ:COST) in a research note to investors on Tuesday. They now have a $124.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Costco Wholesale Corp. (NASDAQ:COST) from $110.00 to $120.00 in a research note to investors on Tuesday. They now have an “equal weight” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Costco Wholesale Corp. currently has a consensus rating of “Buy” and a consensus target price of $117.43.
Costco Wholesale Corp. (NASDAQ:COST) traded down 0.09% on Thursday, hitting $114.7213. 349,959 shares of the company’s stock traded hands. Costco Wholesale Corp. has a 52-week low of $93.51 and a 52-week high of $120.20. The stock has a 50-day moving average of $114.7 and a 200-day moving average of $111.8. The company has a market cap of $50.097 billion and a price-to-earnings ratio of 24.84.
Costco Wholesale Corporation (NASDAQ:COST) with its subsidiaries is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, and through majority owned subsidiaries in Taiwan and Korea.
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