Costco price target raised to $1,095 from $1,005 at Loop Capital

Loop Capital analyst Laura Champine raised the firm’s price target on Costco (COST) to $1,095 from $1,005 and keeps a Buy rating on the shares. The firm cites the company’s Q1 earnings beat, with gross margin expansion more than offsetting SG&A expense growth, the analyst tells investors in a research note. Loop adds that Costco’s calculated new store productivity remains high at well over 100%, pointing to continued strong unit growth opportunities for the company, also noting that its membership fee increase should have a positive low-single digit impact on membership fee growth.