Costco price target raised to $1,030 from $1,020 at Evercore ISI

Evercore ISI raised the firm’s price target on Costco (COST) to $1,030 from $1,020 and keeps an Outperform rating on the shares. Costco’s extreme value proposition is driving “solid” traffic, share gain and membership growth, notes the analyst, who says the current multiple is “rich vs. history, the market, and our coverage,” but backed by Costco’s premium growth and accelerating membership fee income perpetuity stream in “a lackluster consumer backdrop.”