Costco price target raised to $1,145 from $1,050 at Jefferies

Jefferies raised the firm’s price target on Costco (COST) to $1,145 from $1,050 and keeps a Buy rating on the shares. Despite “noise” from foreign exchange headwinds and the Thanksgiving calendar shift, November sales results were “solid,” the analyst tells investors. While the firm took its comp and net sales estimates down slightly to be in line with the reported results, it is raising price target “slightly to account for a higher multiple, given the momentum in the business,” the analyst added.