Baird reiterated its Outperform rating on Costco Wholesale Corporation
The brokerage, which has a price target of $175 on the
Analyst Peter Benedict noted that the higher traffic should be a key driver of
“While compares ticked up ~100bps (~200bps in the U.S.), the shift in Halloween into the November reporting period (Halloween is a strong traffic day for COST) and moving past hurricane-related disruption should benefit U.S. comps relative to October,” Benedict wrote in a note.
In addition, easing comparisons and increased recognition by members of the new co-branded Visa credit card should boost near-term results. The analyst’s bullish thesis is also based on potential U.S./Canadian fee increase and probability of even another special dividend.
At last check, shares of
|Nov 2016||Edward Jones||Upgrades||Hold||Buy|
|Oct 2016||Northcoast Research||Upgrades||Neutral||Buy|
|Oct 2016||Wells Fargo||Initiates Coverage On||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.