Costco price target raised to $1,175 from $1,075 at BMO Capital

BMO Capital analyst Kelly Bania raised the firm’s price target on Costco (COST) to $1,175 from $1,075 and keeps an Outperform rating on the shares. The company reported a “solid as usual” quarter with 10% EPS growth, stable core margins, continued mid-single-digit traffic growth, and “strong” renewal rates, the analyst tells investors in a research note. BMO adds that it continues to see a long runway of both unit growth and same-store sales growth for Costco given its “disciplined and differentiated” approach to value and quality in retail.