DA Davidson analyst Michael Baker raised the firm’s price target on Costco (COST) to $1,000 from $900 and keeps a Neutral rating on the shares. The company’s headline total comp of 7.5% was similar to December’s comp and is the strongest month of the current fiscal year, the analyst tells investors in a research note. The only blemish was that average ticket only increased 0.4%, a deceleration from +1.8% last month, but was offset by strong traffic growth of 7.1%, the firm added.
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